Steak option is a term used to describe the different types of steak cuts available. The three most common steak options are RARE (4 letters), Filet (5 letters) and TBONE (5 letters). RARE steak is cooked for a very short amount of time, leaving it red and juicy on the inside. Filet is a lean cut of steak that is usually tender and flavorful. TBONE steak is a cut of steak that has a T-shaped bone in the middle, with a larger portion of meat on one side and a smaller portion on the other.