Invalid template iteration for value "undefined" in [object:vm undefined (12)]. It must be an Array or an iterable Object. code example

Example: [LWC error]: Invalid template iteration for value "undefined" in [object:vm undefined (12)]. It must be an Array or an iterable Object.

<template if:true={options.data}>
    <template for:each={options.data} for:item="o">
        <li key={o.value}>
            {o.value}, {o.label}
        </li>
    </template>
</template>