If ,you want delete option of product custom then used below code.
Where $valueId= option ID
$optionValue=Mage::getModel('catalog/product_option_value')->load($valueId);
$optionValue->delete();
Question
I want to remove a custom-option value for a product. Please help me.
Solution
If ,you want delete option of product custom then used below code.
Where $valueId= option ID
$optionValue=Mage::getModel('catalog/product_option_value')->load($valueId);
$optionValue->delete();