The difference between Option and Warrant
When used as nouns, option means one of a set of choices that can be made, whereas warrant means a defender, a protector.
When used as verbs, option means to purchase an option on something, whereas warrant means to protect, keep safe (from danger).
check bellow for the other definitions of Option and Warrant
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Option as a noun:
One of a set of choices that can be made.
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Option as a noun:
The freedom or right to choose.
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Option as a noun (finance, legal):
A contract giving the holder the right to buy or sell an asset at a set strike price; can apply to financial market transactions, or to ordinary transactions for tangible assets such as a residence or automobile.
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Option as a verb:
To purchase an option on something.
Examples:
"The new novel was optioned by the film studio, but they'll probably never decide to make a movie from it."
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Option as a verb (computing, dated):
To configure, by setting an option.
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Warrant as a noun (obsolete):
A defender, a protector.
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Warrant as a noun:
Authorization or certification; a sanction, as given by a superior.
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Warrant as a noun:
Something that provides assurance or confirmation; a guarantee or proof.
Examples:
"a warrant of authenticity  a warrant for success"
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Warrant as a noun:
An order that serves as authorization; especially a voucher authorizing payment or receipt of money.
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Warrant as a noun (finance):
An option, usually issued together with another security and with a term at issue greater than a year, to buy other securities of the issuer.
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Warrant as a noun (law):
A judicial writ authorizing an officer to make a search, seizure, or arrest, or to execute a judgment.
Examples:
"an arrest warrant issued by the court"
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Warrant as a noun (military):
A certificate of appointment given to a warrant officer.
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Warrant as a noun (New Zealand, road transport):
A document certifying that a motor vehicle meets certain standards of mechanical soundness and safety; a warrant of fitness.
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Warrant as a verb (transitive, obsolete):
To protect, keep safe (from danger).
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Warrant as a verb (transitive, obsolete):
To give (someone) an assurance or guarantee (of something); also, with a double object: to guarantee (someone something).
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Warrant as a verb (transitive):
To guarantee (something) to be (of a specified quality, value, etc.).
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Warrant as a verb (transitive):
To guarantee as being true; to believe strongly.
Examples:
"That tree is going to fall, I’ll warrant."
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Warrant as a verb (transitive):
To authorize; to give (someone) sanction or warrant (to do something).
Examples:
"I am warranted to search these premises fully."
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Warrant as a verb (transitive):
To justify; to give grounds for.
Examples:
"Circumstances arose that warranted the use of lethal force."