Ah, I see what you're saying. Is there indeed a statutory or regulatory requirement to that effect? I'm not an attorney and you are, so you'd know better than

Ah, I see what you're saying. Is there indeed a statutory or regulatory requirement to that effect? I'm not an attorney and you are, so you'd know better than me, but it's my understanding that "option" applies broadly to contractual obligations and rights to sell/purchase property or rights at some sort of preordained terms, conditions, price, or whatever.