Option (finance), an instrument that conveys the right, but not the obligation, to engage in a future transaction (for example, on some underlying security or on a parcel of real property), or in a futures contract
Option (law), the legal underpinning of a financial option
Option (filmmaking), a contractual agreement between a film producer and a writer, in which the producer obtains the right to buy a screenplay from the writer before a certain date.
Sport
Option run, a play in American and Canadian football
Option offense, an offensive scheme in American football primarily predicated on option runs
"The Option", an alternate name for the South Tyrol Option Agreement, a resettlement program of German speakers living in Italy initiated by Adolf Hitler and Benito Mussolini
Entertainment
OPTION unit, a fictional weapons platform for the Vic Viper in the Gradius series of video games
Option (オプション,opushun?), a catch-all term for similar satellite weapon units which orbit some sort of main unit, appearing in various Japanese video games
"Options", a song by Pedro the Lion from his 2007 album Control
Option N.V., a company providing wireless technology solutions
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