Actually “cleard for the option” includes everything - touch & go, full stop, flyover, etc. but I get your point. “Cleared to land” would be more appropriate here. Thank you for your feedback!
This is incorrect. The option includes a full stop, touch and go, stop and go and low approach. You can clear an aircraft for the option if you’re unsure of intention.
Personally, if you’re cleared for the option, then report your position with “full stop” I’ll simply respond with “roger” because I’ve already cleared you to land or any other type landing you want.