'option' in the sense of a financial derivative - the right to buy an underlying security for a certain strike price in the future. In this case, it would be the chance to continue humanity if the future was bright, or commit racial-suicide if the future was dim. In general the asymmetrical payoff function means that options become more valuable the more volatile the underlying is. However, it seems that in a bad multipolar future we would not actually be able to (choose not to buy the security because it was below the strike price / choose to destroy the world) so we don't benefit from the option value.