In the Autodesk discussion group there was a question how to specify the options file in the license file.
The recommended thing is to name the options file as the vendor daemon and place it in the same folder as the license file.
adskflex.exe is the Autodesk daemon so name the options file adskflex.opt and in this case you don't need to specify it in the license file.
If you really want to use another location and name for the opt file here is how:
Add the path to the options file in the license file on the VENDOR line for the application’s vendor daemon. This example enables the vendor daemon to look at the specified options file:
VENDOR adskflex options=”c:\path\options.opt”
Something you definitely should add in the options file is TIMEOUTALL.