Option has other advantages, like its compositional qualities (thanks to Option being a monad). So imagine the following code
def foo(x:Option[String]) = x.filter(_.length<10).map(_ + "More data")
If the function returns None if it receives either None or a string longer than 10 characters, and if we got Some("short "), foo will return Some("short More data"). The alternatives without an option type, involve at least a couple of branching statements, even if you have a non nullable type, to convert from nullable to not nullable, while Option does it all for us.