option
//ˈɒpʃən//
Noun
optionsPlural
1
A thing that is or may be chosen; one of several possible choices or alternatives.
We have several options to choose from.
2
The freedom, power, or right to choose something.
You have the option to leave at any time.
3
A contract giving the holder the right, but not the obligation, to buy or sell an asset at a specified price within a specified time period.
He purchased a call option to buy the stock at $50 per share.