an alternative course of action; a choice
an item offered in addition to or in place of standard equipment
the act or an instance of choosing, or the right to choose
a right to buy or sell something, e.g. designated securities or commodities, at a specified price during a stipulated period, or a contract giving this right
keep/leave one's options open
to not commit oneself by opting for something
[French option from Latin option-, optio free choice, from optare to choose]