1 freedom to choose
VERB + OPTION have You have the option of taking your holiday early. | give sb
PREP. with/without the ~ of He was jailed without the option of a fine.
PHRASES have little/no option but to We had no option but to leave without them.
2 sth you choose/can choose
ADJ. available, possible, viable | real, realistic | attractive, good Deciding on your best option is not easy. | preferred | practical | easy, soft He thought General Studies would be a soft option. | cheap | expensive | policy | menu (on a computer)
VERB + OPTION choose, exercise, select, take Look at the on-screen menu and select the ‘File’ option. | give sb, offer (sb) | limit | look at Let's look at all the options available.
PHRASES keep/leave your options open (= to avoid making a decision now so that you still have a choice later)
3 right to buy/sell sth at some time in the future
ADJ. first | share, stock
VERB + OPTION have | exercise, take (up) She took up an option in her contract to buy three million shares.
PREP. ~ on He's promised me first option on his car.