I have the exact same problem. It seems that the entire options menu is gone in the newest version (Evernote version 10.14.7, downloaded today).
All that is left is Preferences -> "Check spelling" and "Save data at log out".
It is hard for me to believe that this is really a bug, because if so then it would be quite severe and would have gone unnoticed for at least 3 months (the original post was from March 5th). Maybe the options menu is to be accessed differently now and we just do not see it?