This paper proposes the compensation for siting nuisance facilities applying adjustable strike put options. This option provides future rights to residents living near a nuisance facility to sell their property at an appropriate price that corresponds to the property that has no nuisance facility near it. I built a model to evaluate the value of the option and developed a trial to compute the value in the Tokyo metropolitan area. As a result, the value of the option is 5.03% of the initial land price; almost the same value as the difference of the expected land value in the future between a nuisance siting area and a no nuisance area. The advantage of the compensation with this option is that the residents near the facility can expect the appropriate operation of the facility and the environmental management around the facility after the siting, because the facility manager will be urged to avoid the loss brought by the option exercise.