What is an 'option'?

What is an 'option'?

Derek Johns (Managing Director - AP Watt Literary Agency) gives expert video advice on: Will an agent sell my book rights to Hollywood?; How many books make it to the screen?; If my book gets optioned, will I get to write the screenplay? and more...

An option is an agreement between the writer and producer for a period of time, normally 12 to 18 months. That producer has exclusive right to try to develop a film, to find a screenwriter, to find a director, to find actors and so on.Those options are almost always renewed. Very seldom does a film get made in the first 12 to 18 months. They're normally renewed for another 12 to 18 month period. And often renewed again and again.