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 ?
Each DGCX Indian Rupee Options contract represents one Indian Rupee Futures contract of INR 2 million.
short--an initial sell position with a futures or options contract or the act of forward selling a cash position.
The introduction in 1984 of options contracts based on primary agricultural commodities offered farmers and other industry participants an alternative method of managing the risk associated with unstable price.
Options contracts come as a helping hand to business class investors by enabling them to hedge their business risk arising out of wide fluctuations in Indian currency in a transparent and regulated trading environment," said Babu Lonappan, Director, JRG International.
Daweda Exchange, operating under EU license number 289/16 from the Cyprus Securities and Exchange Commission, is a marketplace for binary options contracts that gives freedom to both buyer and seller to set prices and trade in financial contracts directly with each other in peer-to-peer transactions.
CME Group, a derivatives marketplace, has introduced short-term options contracts for Gold, Crude Oil and Natural Gas, to start trading on July 16, 2011.
According to the Chicago Board of Options Exchange (CBOE), trading volume reached a record 406 million options contracts last year, compared with 210 million contracts in 1990.
DERIVATIVES DERIVE THEIR value from underlying financial instruments and include futures, forward, swap and options contracts.
The increases in the margin levels for futures and options contracts during and shortly after the October crisis yielded the clearinghouses protection even greater than that provided by margins in the cash market.
13 May 2014 -- US-based exchange and clearing house operator IntercontinentalExchange Group (NYSE: ICE) said it has launched 64 new energy futures and options contracts on May 12 2014 subject to the completion of necessary regulatory and governance processes.