World Of Tricks

Start -> run -> gpedit.msc
Have a look in the group policy in
"Administrative Templates -> Windows Components -> Windows Explorer"
disable "Removes the Folder Options menu item from the Tools menu"

OR

Edit the registry to get the folder options back.
Go to Start -> Run -> regedit and click Ok.
Find the following key: HKEY_CURRENT_USER\Software\Microsoft\Win
dows\CurrentVersion\Policies\Explorer
Find the NoFolderOptions key and change the vaule to 0 assuming you have this registry key.
Restart your computer