This article is about an item affecting room clear rewards. For a similar item affecting Boss rewards, see There's Options. For a similar item affecting Treasure Rooms, see More Options.
Upon completing a room, if a room clear reward would spawn, another different reward spawns next to it. If Isaac directly interacts with one, the other disappears.
Notes
If one of the rewards is a troll bomb, picking up the other reward will not make the troll bomb disappear. Likewise, the other reward will not disappear if the troll bomb blows up.
If one of the consumables generated by this effect is a heart, converting it with Apple of Sodom or Keeper will not cause the other consumable to disappear.
If one of the consumables generated is a Haunted Chest and is picked up and thrown by the Polty (thus opening it), picking up the contents of the chest will not make the other consumable disappear, and taking the other consumable will only make the opened chest disappear.
Killing the Polty after it awakens but before it can properly pick up the chest will result in the other reward disappearing, however.
If one of the consumables is a Bomb Chest, blowing it up and picking up its contents will not make the other consumable disappear, and taking the other consumable will only make the opened chest disappear.
However, this doesn't apply if the Bomb Chest has an item in it. Taking the other consumable will cause the Stone Chest item to disappear and vice versa.
Unlike item-based Options effects like There's Options, it is not possible to take both consumables as Jacob and Esau, with Strawman, or in True Co-op. One consumable will always disappear even if both are collected at the same time.
Synergies
Broken Padlock: Bombing any chest spawned by Options?, including the ones not requiring keys, allows picking up the contents of the chest without the other reward disappearing, unless the empty chest is touched. This can be easily avoided by simply exiting and reentering the room.
Contract From Below: Spawns a second set of consumables. The "Options?" consumable is not guaranteed to be the same for each copy of the original consumable. Each pair of consumables functions independently for "Options?", meaning Isaac can pick up one of the first two rewards and one of the second two rewards.
Deep Pockets/Old Capacitor: Every extra coin or battery generated will have its own alternative reward.
Equality!: While Equality! is active, both rewards can be collected without the other despawning. Options? also makes Equality! easier to keep active.
Guppy's Eye: Takes the guesswork out of choosing between a chest/sack and a pickup by allowing you to see what the chest/sack will give.
Guppy's Tail: Gives a choice between a golden chest and something else in case Isaac is low on keys.
Magneto: Opening a chest does not make the other reward disappear. Picking up the other reward afterwards will only remove the empty chest, and picking up the contents of the chest will not make the other reward disappear, letting Isaac take both rewards. This does not apply to chests with items in them, which disappear or make the other reward disappear as normal. Touching a chest will still make the other reward disappear.
Magneto + Broken Modem: If Broken Modem duplicates a chest that was spawned by Options?, using Magneto to immediately open the chest while in its glitched form will create a TMTRAINER item if the chest contained an item.
Broken Modem: If the room drops are doubled, only the original set is affected by "Options?"; both consumables of the duplicate set can be collected.
Caution should be approached if you take this item and Magneto when you're in Chest or Dark Room, as there's a chance the chest will "glitch" out via Broken Modem and opening it during the "glitching" will turn the item into a glitched item, as if it was spawned by TMTRAINER.[1]
Bum Friend, Bumbo, Dark Bum, Key Bum, and the familiar gained from the Super Bum transformation will cause other items to disappear when they take their respective pickups.
D20: Can re-roll both pickups created by Options?, but only one can still be taken.
Glyph of Balance: Only one of the rewards is modified by the Glyph.
Moving Box: One of the pickups will disappear when using Moving Box.
Apple of Sodom or 
Keeper will not cause the other consumable to disappear.
Haunted Chest and is picked up and thrown by the 
Polty (thus opening it), picking up the contents of the chest will not make the other consumable disappear, and taking the other consumable will only make the opened chest disappear.
Bomb Chest, blowing it up and picking up its contents will not make the other consumable disappear, and taking the other consumable will only make the opened chest disappear.
There's Options, it is not possible to take both consumables as 
Jacob and Esau, with 
Strawman, or in True Co-op. One consumable will always disappear even if both are collected at the same time.
Broken Padlock: Bombing any chest spawned by Options?, including the ones not requiring keys, allows picking up the contents of the chest without the other reward disappearing, unless the empty chest is touched. This can be easily avoided by simply exiting and reentering the room.
Contract From Below: Spawns a second set of consumables. The "Options?" consumable is not guaranteed to be the same for each copy of the original consumable. Each pair of consumables functions independently for "Options?", meaning Isaac can pick up one of the first two rewards and one of the second two rewards.
Deep Pockets/
Old Capacitor: Every extra coin or battery generated will have its own alternative reward.
Equality!: While Equality! is active, both rewards can be collected without the other despawning. Options? also makes Equality! easier to keep active.
Guppy's Eye: Takes the guesswork out of choosing between a chest/sack and a pickup by allowing you to see what the chest/sack will give.
Guppy's Tail: Gives a choice between a golden chest and something else in case Isaac is low on keys.
Magneto: Opening a chest does not make the other reward disappear. Picking up the other reward afterwards will only remove the empty chest, and picking up the contents of the chest will not make the other reward disappear, letting Isaac take both rewards. This does not apply to chests with items in them, which disappear or make the other reward disappear as normal. Touching a chest will still make the other reward disappear.
Broken Modem: If Broken Modem duplicates a chest that was spawned by Options?, using Magneto to immediately open the chest while in its glitched form will create a 
TMTRAINER item if the chest contained an item.
Safety Scissors: If a 
Troll Bomb/ 
Mega Troll Bomb/ 
Golden Troll Bomb is turned into another form of bomb, it can be picked up without causing the other reward to despawn.
Bag of Crafting: Only one of the rewards can be grabbed.
Bum Friend, 
Bumbo, 
Dark Bum, 
Key Bum, and the familiar gained from the 
Super Bum transformation will cause other items to disappear when they take their respective pickups.
D20: Can re-roll both pickups created by Options?, but only one can still be taken.
Glyph of Balance: Only one of the rewards is modified by the Glyph.
Moving Box: One of the pickups will disappear when using Moving Box.
IX - The Hermit?: Only one of the rewards will be "sold".
Options 
Isaac Unlocks 
The Beast Unlocks 
The Binding of Isaac: Rebirth
