(finance, law) A contract giving the holder the right to buy or sell an asset at a set strike price; can apply to financial markettransactions, or to ordinary transactions for tangible assets such as a residence or automobile. [from the mid-18th c.]
(graphical user interface) A button on a screen used to select an action (often "menu option").
Verb
To purchase an option on something. [from the 20th c]