Not exactly here is a definition:
http://www.investopedia.com/terms/s/stockoption.asp
Also I would stay away from obvious stocks that your class might pick and go with stocks with a higher beta. Personally I would buy all the derivatives exchanges ICE, NYX, CME as they probably won't have these and these stocks are going to crush when they report earnings in late October with all the volatility the market has been having. But GL and sounds like a fun class.