stock option

from The American Heritage® Dictionary of the English Language, 5th Edition.

• noun A right to buy or sell specific securities or commodities at a stated price within a specified time.

from WordNet 3.0 Copyright 2006 by Princeton University. All rights reserved.

• noun a benefit given by a company to an employee in the form of an option to buy stock in the company at a discount or at a fixed price
• noun the right to buy or sell a stock at a specified price within a stated period