can we alter the options in the second round of iit jam counselling in the place of existing options filled in the first round?
No you can't change options after counseling form is submitted once. Due to this, it is important to be cautious and choose college options which will be more suitable as per the merit and entrance score.
In 2ns round, they will consider college options as per 2nd phase cutoff. If any of the given options satisfies the cutoff then a college option will be assigned.
There can't be any change now.
Hope it helps!