option to buy
noun [ C ]
ukus(also option to purchase) FINANCE, STOCK MARKET
an agreement that gives an investor the right to buy a particular number of shares, or other financial assets, at a fixed price and before a fixed date:
The option to buy expired last Friday.
FINANCE, COMMERCE
an agreement in which a company buys a product from another company and has the right to buy more of that product later, but does not have to do so:
exercise/have/receive an option to buy The executive can exercise the option to purchase and then resell it into the market at the higher price.
FINANCE, PROPERTY
a financial agreement that gives someone the right to buy property or land within an agreed time and for an agreed amount, especially after they have rented it for a particular amount of time:
The city leased the building to Rescue Ministries in 2009 with an option to buy.
City officials signed a $5,000 90-day option to purchase on the building, which is located in the heart of downtown.
Compare
rent-to-own