Each row in the SYSOPTIONS view describes one option that was created using SET.
Each user can have their own setting for each option. In addition, settings for the PUBLIC user define the default settings to be used for users that do not have their own setting.
The SYSOPTIONS view is a SQL Anywhere consolidated view. See SQL Anywhere 11.0.1 > SQL Anywhere Server - SQL Reference > System Objects > Views > Consolidated views > SYSOPTIONS consolidated view.