Starpoints = hotel/airfare points (every other year you can convert you TS into Starpoints)
Staroptions = the exchange value of a SW timeshare in the internal exchange system (SVN)
Staroptions cannot be carried over to the next year - they expire at the end of every calendar year.
Staroptions can be borrowed from the next year, but you have to pay the MF's for the next year to do so, and you can only borrow the number of Staroptions needed for the exchange you want to make. Also, by borrowing Staroptions you lose the owner's priority reservation period (8-12 mos.) and have to wait until
90 days (corrected) out to make a Resv. If you own an every-other-year TS, you cannot borrow Staroptions to use during the off years.
This
TUG Advice Page article has lots of good back ground info about Starwood.