The documentation of optparse mentions make_option() as the standard way
to create an option list:

For example, in the doc of python 2.5:

====
14.3.3.2 Populating the parser

[...]
pass it an Option instance (as returned by make_option())

[...]

option_list = [
    make_option("-f", "--filename",
                action="store", type="string", dest="filename"),
    make_option("-q", "--quiet",
                action="store_false", dest="verbose"),
    ]

(make_option() is a factory function for creating Option instances;
currently it is an alias for the Option constructor. A future version of
optparse may split Option into several classes, and make_option() will
pick the right class to instantiate. Do not instantiate Option
directly.)
===============

However, make_option is not part of the function exported in the __all__
list of optparse. Strangely enough, this does not prevent to use
make_option() in regular python scripts, but it does not work when
packaging a python application, for example with pyinstaller.

The problem is also present in python 2.6

The fix is either to update the documentation to use Option() directly
or to add make_option to __all__

As commented in optparse.py, make_option is the preferred way to create
options, so I've added it to __all__ in r70868.