diff --git a/README.md b/README.md
index 01f975958..19716168c 100644
--- a/README.md
+++ b/README.md
@@ -52,7 +52,7 @@ Alternatively, refer to the [developer instructions](#developer-instructions) fo
 
 # OPTIONS
     -h, --help                       Print this help text and exit
-    --version                        Print program version and exit
+    -V, --version                    Print program version and exit
     -U, --update                     Update this program to latest version. Make
                                      sure that you have sufficient permissions
                                      (run with sudo if needed)
diff --git a/youtube_dl/options.py b/youtube_dl/options.py
index 1ffabc62b..8b19b86fc 100644
--- a/youtube_dl/options.py
+++ b/youtube_dl/options.py
@@ -134,7 +134,7 @@ def parseOpts(overrideArguments=None):
         action='help',
         help='Print this help text and exit')
     general.add_option(
-        '-v', '--version',
+        '-V', '--version',
         action='version',
         help='Print program version and exit')
     general.add_option(