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 ?
short--an initial sell position with a futures or options contract or the act of forward selling a cash position.
The primary purpose of this paper is to examine the relationship between newly available agriculturally based options contracts and current government guarantees to producers.
DGCX will hold workshops on the INR Options contract prior to its launch on September 26.
Gary Anderson, chief executive officer of Dubai Gold and Commodities Exchange, said: "The re-listing of the Indian Rupee options contract further widens opportunities to trade emerging market contracts on the exchange.
Gary Anderson, CEO of Dubai Gold and Commodities Exchange said, "The re-listing of the Indian Rupee options contract further widens opportunities to trade Emerging Market contracts on the Exchange.
The launch of the Options contract will build on the success of the DGCX Indian Rupee Futures contract, which on September 22, recorded its highest ever daily volume of 34,046 contracts, valued at $1.37 billion.
Eric Hasham, Chief Executive Officer of DGCX said, "The provision of an Indian Rupee Options contract will enable us to build on the exceptional volume growth achieved by our Indian Rupee futures contract over the last 12 months and meet member demand to further strengthen our INR offering.
CBOE Holdings consolidated trading volume for options contracts on Chicago Board Options Exchange (CBOE) and C2 Options Exchange (C2SM) and futures contracts on CBOE Futures Exchange (CFE) totaled nearly 1.19bn contracts, the firm said.
Options contracts on US Treasury Securities may be traded by qualified investors in securities brokerage accounts.
The fund will invest mainly in a diversified portfolio of commodity futures and options contracts, Nuveen Investments added.