I (unfortunately) experienced EXACTLY the same problem several of you have described...and here is what WORKED for me to get it fixed...My configuration is Win-98SE on a 950 Mhz CPU with 512 RAM and a dial-up connection using Norton Internet Security and Anti-Virus up to date.

1. Create a *.ZIP file containing your ENTIRE mIRC installation folder (and sub-folders) and name it anything that does NOT have the text string "mirc" in it...Put that Zip file somewhere like the desktop to keep it out of the way.

2. Uninstall mIRC through the "Start" - "Settings" - "Control Panel" - "Add/Remove Programs" dialog. The uninstall will NOT remove all of the components (it will leave your *.ini and similar files)

3. After the uninstall, remove/delete the mIRC Folder completely....Yes, INCLUDING the old *.ini files and the like...that's why we had Step #1 above!

4. Run "RegEdit" to edit your Registry. Please remember that RegEdit is a powerful tool and can cause problems if you're not careful...follow these instructions exactly! In RegEdit, search by "File" - "Find" command for the text string "mIRC" (and do NOT make the search case sensitive). At EACH occurrence of that string being found, Delete it from the Registry. Hit the <F3> key for "find next" and repeat the deletions until all occurrences are eliminated. RegEdit will inform you when the entire registry has been searched, which, depending on your own configuration, could be a lot of them. This step results in a "Deep Clean" uninstall of the prior corrupted mIRC.

5. Close "RegEdit" and re-boot your machine

6. Re-Install mIRC (recommended that you get the latest version before proceeding) 'clean'...do NOT ask it to save your prior settings or back up your prior install (which SHOULD already be gone)

7. Unzip the prior install from Step #1 and copy all of the files and folders from your prior install EXCEPT for mIRC.exe (and the Help file if you are installing a newer version than previously). Leave that one (or two) as it is from the new install.

8. Start mIRC.....and you SHOULD have your "Options" back in working order...It worked the first time for me!

Good luck...this solution came from an ircHelp channel OP and was a saviour for me!