If a player takes the PO then there is no negotiation however if they let it lapse and then head into negotiations, the only difference (negative) would be if the option expired later into the final contract year, there would be less time to find a replacement (should the player leave, like Talagi).
In Talagi's case however we made him an offer in November 2023 (before the PO lapsed) that effectively negated the PO as it was of a higher value so realistically we had already opened negotiations.
There would also be a negative to a PO if we decided we didn't want to keep the player and they wanted to stay regardless, but that doesn't seem to be the norm. Rumour has it this is what occurred with Matterson who I am told has invoked his PO for 2026 early as he couldn't get another contract elsewhere - no doubt due to concerns about another concussion forcing him to retire. Although if this did happen, we would get paid out by insurance.
This is what I was about to point out in answer to your earlier post "how do PO's hurt us?".
Hypothetically - Let's say come December this year, the Storm and Cameron Munster come to an agreement that he can negotiate with anyone for 2026. Ryles tells MON to do whatever it takes to get him to Parra.... But MON turns around and says we've got Drown's PO to think about and he has got until July 2025 (for arguments sake) to activate it... The club is basically hamstrung from being able to negotiate with a marquee player because Drown has a PO which nobody knows will be activated. Whereas if he was just "off contract" at the end of 2025, we'd know where we stand and could cease any contract extension talks with Drown and go hard for Munster.
Then in March 2025, Munster announces he has signed with the Broncos for 2026 because Parra couldn't make a concrete offer.... In July 2025, Drown decides he won't be taking up his PO and has instead agreed to terms for 2026 -2030 with the Warriors. Instead, Parra end up signing Toby Sexton and Jackson Hastings with the space freed up in the cap in the hope that one of them can finally nail down a halves spot
That scenario might be the "only difference" as you term it if the PO expires later in the year... But it's a pretty f**king big difference with potential to completely scupper your recruitment plans and goals.
In saying all of that - there seems to be some black magic involved behind the scenes with PO's and no doubt I've missed something in the hypothetical above and I'm way off...