The most common and most likely answer to this crossword clue is the 11 letter word ALTERNATIVE
I've seen this crossword clue in The Sunday Telegraph
A
L
T
E
R
N
A
T
I
V
E
More clues leading to the result ALTERNATIVE
Buddy explains!

The straight part
We know that "option" is the straight/definition part of the clue. The straight part is often a synonym or definition, in this case option = alternative.The cryptic/wordplay part
In cryptic crossword there's often an wordplay/cryptic part as well.This part involves a more complex hint, such as an anagram, homophone, hidden word, etc.
Sadly, We don't have an explanation for this specific crossword clue yet.
What does ALTERNATIVE mean?
ALTERNATIVE noun- A situation which allows a mutually exclusive choice between two or more possibilities; a choice between two or more possibilities.
- One of several mutually exclusive things which can be chosen.
- The remaining option; something available after other possibilities have been exhausted.
- Alternative rock
- Relating to a choice between two or more possibilities.
- Other; different from something else.
- Not traditional, outside the mainstream, underground.
- Alternate, reciprocal.