An Option is an augment to a player's ship that grants additional firepower. Options are usually represented by a pod-like object or a small ship that flies with the player's ship. In some games, Options can also be used to block bullets. Often the player has some control over the positioning or formation of their ship’s Options, but that is not a necessary trait.
Different games call their Options different names. Common occurances include: bit, shard (esp. if there are several), satellite (esp. if they are circling the main ship).
(Not to be confused with the Detachable module mechanic, where the player can detach or (re-)attach the module.)