Of course he has an option, he could ask for transfer and made a big fuss about being kept against his will etc etc which is exactly what Madrid have been pushing him to do. The media would have loved it and if he had no respect for the club like some on here say that is exactly what he would do.
Erm, did you miss the co-ordinated slavery comments from Blatter and Ronaldo?
Fergie nipped it in the bud by finally speaking out, and meeting Ronaldo face to face. You can bet he told Ronaldo in no uncertain terms what was going to happen, he was staying here next season. Yes he could make a greater fuss and 'demand' a transfer, but he isn't going to get one. I'm sure the lad is smart enough to realise what he needs to try and do now to get his colleagues and supporters onside again
Don't for a second think we'd have heard this interview from Ronaldo now had Fergie not acted when he did