There are several words with similar (in some sense) meaning:
Options, Settings, Properties, Configuration, Preferences
English is n
These aren't set anywhere, but I figured I might as well chip in my 2¢ on the topic. When I see these in an application, this is what they imply to me:
One thing that I don't see in the answers here (although bobince alludes to it) is that you should consider what is typical for your environment/operating system. For instance on windows I think "Options" is the most common choice even though many programs use different words. Likewise "Preferences" for mac os. Android OS uses "Settings"
So bottom line, use what is most common for your environment.