"option to mitigate" is correct and usable in written English.
You can use it to refer to a choice or course of action that is designed to minimize or lessen the severity of something, such as a law, regulation, or burden. For example, "The company has proposed an option to mitigate its financial obligations to the town."
Using electrolyte additives may be one option to mitigate (if not solve) this issue.
Adding chemicals to the biofluid is an option to mitigate membrane fouling in membrane bioreactors.
On the other hand, wind power is the clean source preferred option to mitigate CO2 emissions.
The stone line technique seems to be a sound option to mitigate water stress during dry spells.
Injection of supercritical carbon dioxide (scCO2) into deep saline aquifers is considered a promising option to mitigate global climate change.
One option to mitigate the seismic risk of highway bridges in Quebec is to replace typical elastomeric bearings used there with natural-rubber seismic-isolator devices.
We are looking at potential options to mitigate any possible damage this satellite may cause".
It offers several options to mitigate the boom and bust cycle, including increasing property tax rates and using periodic tax windfalls to lower debt.
Boards scrambled to reprice options to mitigate the impact of sharply lower stock prices, and even executives who were blamed for major mistakes walked away with severance packages fit for royalty.
At the same time, ordinary people who have been caught up in the catastrophe are impoverished and have fewer options to mitigate their situations than they had before the onset of the emergency.
Osborne has many options to mitigate the impact of the tax credits and some would not require him to bust his plan to have the budget in overall annual surplus by the end of the parliament, probably the single biggest target he has set himself.
