Beta is a measure of how much a stock will likely move in relation to the market. The market has a beta of 1. A stock with a beta of .5 is less volatile than the market, whereas a stock with a beta of 1.5 is more volatile than the market. Search Equities or Industries.
An option is a financial derivative that represents a contract sold by one party to another, offering the buyer the right, but not the obligation, to buy (call) or sell (put) a security or other financial asset at an agreed-upon price during a certain period of time or on a specific date. (Source: Investopedia)