The phrase "limited set of options" is correct and usable in written English.
You can use this phrase when you want to express that there are only a few choices available. For example, "With a limited set of options, I had to choose the one that would best suit my needs."
So, looking at £12bn, they have got a relatively limited set of options.
Our parents' generation had a limited set of options; this generation has much, much more.
So is accepting the bitter truth that, in strategic terms, countries in relative decline (which includes all Europe) must choose between a limited set of options, none of which is likely to be are wholly attractive.
To keep up their growth, these companies have a limited set of options: find more people to use their products, find new ways to make money from what they're already doing, or find something new to sell.
"There is a limited set of options," she added.
In contrast, Mailbox takes a very stripped-down approach, providing a limited set of options for dealing with email.
In a related form of decontextualization, some bioethicists and physicians reduce autonomy to informed consent and restrict its exercise in medical practice to a patient's selection of choices from a limited set of clinical options (Dodds 2000).
He's doing pretty much everything he can, with what are a very limited set of policy options at his disposal.
In particular, the devices mostly offered a limited set of configuration options which may be envisioned as 'knobs' that can be tuned to suit the operator.
The themes and layouts come with a limited set of font options, for example, making it so you can't butcher your site with 20 different variations of serif and sans serif.
Currently broadband is classified as an information service, a category that gives the FCC a fairly limited set of regulatory options.
