Options are closer to paying 1$ at a garage sale for the owner to sell it to you on a future date at 1$ and you have the right but not the obligation to do so (

Options are closer to paying 1$ at a garage sale for the owner to sell it to you on a future date at 1$ and you have the right but not the obligation to do so (say the price is 20 cents next year - you don't have to buy the book at 1$ anymore and you hope that your option you purchased is less than 79.9 cents in order to profit.