I have noticed that my colleagues in law may well be economics literate and law-and-econ practitioners, but finance and options are not part of their everyday discourse. When someone gave a paper on options, the finance notion was in the author's mind but not much in the paper or in the audience’s minds. And option for them was some sort of future choice, but not what finance calls options.
-------People have written me that the math and formulas may be too difficult for many students. I am not concerned about that. The basic ideas are straightforward, and you could always make a decision tree with a few branchings. The difference from most decision analysis is that you pay now for the chance to make a choice later, and you don't have to know which choice you will make until then.