Derrick Williams says he appreciates the security the Minnesota Timberwolves provided when they exercised the option on his contract for next season.

The Timberwolves confirmed the decision on Tuesday. They had until the end of the month to either exercise the option for 2014-15 or decline it and allow Williams to become an unrestricted free agent next summer.

Coach Rick Adelman says he sees progress in Williams' game this preseason. Williams is the team's second-leading scorer in the exhibition season and could be in position to start at small forward while Chase Budinger recovers from another knee injury.

The Timberwolves drafted Williams No. 2 overall in 2011.

The Timberwolves have two more exhibition games left on Wednesday and Thursday this week. They open the regular season on Oct. 30.