option

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option

1. Commerce an exclusive opportunity, usually for a limited period, to buy something at a future date
2. NZ short for local option

Option

 

in international law, the choice of citizenship extended to persons having citizenship of two or more states. The implementation of the option is based on an agreement between the interested states or on legislation by the states. The option arises most often in the cession of territory, when special accords grant citizens of the contracting states the right of option. Children, as a rule, follow their parents’ option of citizenship.

An example of option connected with territorial changes after World War II is the 1947 peace treaty with Italy, which granted for one year the right of option of citizenship to citizens who until 1946 had been permanent residents of territories ceded at that time to other states.

After the October Revolution of 1917, the Soviet state concluded an agreement on option with the states that had emerged from the former Russian Empire, for example, with Finland. The USSR signed a number of option agreements after World War II. An example is the Protocol on Option in the 1945 Soviet-Czechoslovak treaty on the Transcarpathian Ukraine. The protocol provided that persons of Ukrainian or Russian nationality who resided in regions of Slovakia in Czechoslovakia and persons of Slovak or Czech nationalities who resided in the Transcarpathian Ukraine could choose either Soviet or Czechoslovak citizenship.

Option of citizenship was also provided for in the conventions on dual citizenship the USSR concluded with a number of socialist states between 1956 and 1966.

option

An agreement between an owner and prospective user of a property which, for a specified sum, grants the latter the right to buy or rent the property within a specified period of time.

option

References in periodicals archive ?
Trading volume of both options contracts and the related futures contracts for several commodities has grown substantially in the 1980's but publicly available data does not differentiate between hedging and speculative activity.
For questions regarding ICE Brent Futures and Options contracts, and spreads, please contact Mike Davis, +44 20 7065 7753 mike.
These new short-term crude oil and natural gas options contracts will enable market participants to better manage that kind of event risk.
The gasoil-Brent crude oil crack spread options contract will be listed for 60 consecutive months, through June 2014; the heating oil-crude oil crack spread options contract will be listed for 36 consecutive months, through June 2012; and the RBOB-crude oil crack spread options contract will be listed for the current year plus three additional years, through December 2012.
The new calendar spread options contracts and their commodity codes will be: crude oil one-month spread (7A); crude oil two-month spread (7B); crude oil three-month spread (7C); crude oil six-month spread(7M); crude oil 12-month spread (7Z); Brent crude oil last day one-month spread (9N); Brent crude oil last day two-month spread (9B); Brent crude oil last day three-month spread (9Q); Brent crude oil last day six-month spread (9L); Brent crude oil last day 12-month spread (9Y); natural gas one-month spread (G8); natural gas two-month spread (G9); natural gas three-month spread (H9); natural gas five-month spread (H8); natural gas six-month spread (H7); and natural gas 12-month spread (H6).
5% Rotterdam barges average price options contracts will be 1,000 metric tons.
December 2009 will be the first listed month for both the futures and options contracts, with additional contract months to be added.
9 million equity options contracts in the same year-ago period.
The strike price intervals are the same as the floor-traded options contracts.
As the exchange develops and gains in prominence, we expect a significant amount of trade in silver, steel, freight, cotton and energy contracts, so that we can achieve a balanced portfolio with futures and options contracts available for all listed commodities.
On March 6, NYMEX will also launch CAT risk options contracts for trading on the NYMEX trading floor and for clearing on NYMEX ClearPort.
For the third time in 2004, ISE traded more options contracts than any other exchange.