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Definition of option verb from the Oxford Advanced American Dictionary

  

option

 verb
verb
NAmE//ˈɑpʃn//
 
option somethingVerb Forms present simple I / you / we / they option
 
 he / she / it options
 
 past simple optioned
 
 -ing form optioning
 
 
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to buy or sell the right to own or use something at some time in the future The novel was optioned for the screen by his production company. We've optioned all her books, including future ones. This is his first script to be optioned by a film producer.
See option in the Oxford Advanced Learner's Dictionary
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