Category:Option

Op"tion, n. Etym: [l. optio; akin to optare to choose, wish, optimus Best, and perh. to e. apt: cf. F. option.]

1. The power of choosing; the right of choice or election; an Alternative. There is an option left to the united states of america, whether they Will be respectable and prosperous, or contemptible and miserable, as A nation. Washington.

2. The exercise of the power of choice; choice. Transplantation must proceed from the option of the people, else it Sounds like an exile. Bacon.

3. A wishing; a wish. [obs.] Bp. Hall.

4. (ch. of eng.)

Defn: a right formerly belonging to an archbishop to select any one Dignity or benefice in the gift of a suffragan bishop consecrated or Confirmed by him, for bestowal by himself when next vacant; -- Annulled by parliament in 1845.

5. (stock exchange)

Defn: a stipulated privilege, given to a party in a time contract, of Demanding its fulfillment on any day within a specified limit. Buyer's option, an option allowed to one who contracts to buy stocks At a certain future date and at a certain price, to demand the Delivery of the stock (giving one day's notice) at any previous time At the market price. -- seller's option, an option allowed to one who contracts to Deliver stock art a certain price on a certain future date, to Deliver it (giving one day's notice) at any previous time at the Market price. Such options are privileges for which a consideration Is paid. -- local option. See under local.

Syn. -- choice; preference; selection. -- option, choice. Choice is an act of choosing; option often means Liberty to choose, and implies freedom from constraint in the act of Choosing.