option

noun

1. 1

   the act of choosing or selecting

   your choice of colors was unfortunate

   you can take your pick

2. 2

   one of a number of things from which only one can be chosen

   what option did I have?

   there no other alternative

3. 3

   the right to buy or sell property at an agreed price; the right is purchased and if it is not exercised by a stated date the money is forfeited