What is Option money?
Option money definition and meaning on Dictionary terms:
the power or right of choosing.
something that may be or is chosen; choice.
the act of choosing.
an item of equipment or a feature that may be chosen as an addition to or replacement for standard equipment and features: a car with a long list of extra-cost options; a telephoto lens option for a camera.
a privilege acquired, as by the payment of a premium or consideration, of demanding, within a specified time, the carrying out of a transaction upon stipulated terms; the right, as granted in a contract or by an initial payment, of acquiring something in the future: We bought one lot and took a 90-day option on an adjoining one.
Football. a play in which a back has a choice of either passing or running with the ball.
verb (used with object)
to acquire or grant an option on: The studio has optioned his latest novel for film adaptation.
to provide with optional equipment: The car can be fully optioned at additional cost.