Yes, OPTIONS is a Scrabble word!

Letter values in Scrabble US: O 1, P 3, T 1, I 1, O 1, N 1, S 1.

Is it a valid word?

OPTIONS is a valid word in the official Scrabble dictionary (US), the UK Scrabble Dictionary and Words with Friends (ENABLE).

the right to buy or sell property at an agreed price; the right is purchased and if it is not exercised by a stated date the money is forfeited
one of a number of things from which only one can be chosen
the act of choosing or selecting