Ontario Securities Commission Rule 14-501 Definitions
Section 1.1(2)

option

In a rule, unless otherwise defined in the rule…

“option” means an agreement that provides the holder with the right, but not the obligation, to do one or more of the following on terms or at a price established by or determinable by reference to the agreement at or by a time established by the agreement:

1. Receive an amount of cash determinable by reference to a specified quantity of the underlying interest of the option.

2. Purchase a specified quantity of the underlying interest of the option.

3. Sell a specified quantity of the underlying interest of the option;

Lexata note: also defined in s. 1.1 of NI 81-102.