Is there a way to hide an option value after 3 of such submissions?

Is there a way to hide an option value after 3 of such submissions? I am trying to do a volunteer form where in to allow only 3 volunteers to be able to pick a time-period.

You can achieve such requirements by using our widgets with limitted number of items, such as our Inventory widget:

https://www.jotform.com/help/252-How-to-Add-a-Widget-to-your-Form

Similar to the Inventory widget, you can use Gift Registry, Quantity Gift Registry, or our Appointment Slots widgets.

Please try them out, and let us know should you need further assistance.