I am using macOS High Sierra 10-13-6. I do not have this option in System Preferences [Reset > Erase All Content and Settings.]
So what method can I use?
Which iMac do you have?
WHAT YEAR was it made/sold?
What version of the OS came with it?
If you want the original OS that came with it, boot to: Command-SHIFT-OPTION-R
This is a special version of internet recovery that will install the OS that originally shipped (or the closest version to it).
Then, use disk utility to erase the drive and re-install.
(be sure to choose "show all devices" from disk utility's "view" menu)
If you want the most recent OS that can run on it, boot to: Command-OPTION-R
This is "regular" INTERNET recovery.
Then, erase and re-install.