Nouns

(n)optionthe 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
(n)option, alternative, choiceone of a number of things from which only one can be chosen“what option did I have?”, “there is no other alternative”, “my only choice is to refuse”
(n)choice, selection, option, pickthe act of choosing or selecting“your choice of colors was unfortunate”, “you can take your pick”