option
The company exercised its option to buy a large stake in a Belgian electricity supplier.
There are reports now that they are very close to exercising a military option.

SMART Vocabulary: related words and phrases

Using and misusing
adopt
adoption
avail
avail yourself of something
be/go heavy on somethingidiom
exhaust
go into something
go through
gobble something up
make capital out of somethingidiom
max
spare
spent
swallow
tap
turn to someone/something
turn/use something to good accountidiom
unblock
underuse
underused

You can also find related words, phrases, and synonyms in the topics:

Stock markets