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As someone has already commented, there is already a %PASSED built-in function to test whether a parameter is available to be used. And there is a %OMITTED built-in function that can test whether *OMIT was passed for OPTIONS(*OMIT) parameter. See this article in the RPG Cafe for PTF details: https://www.ibm.com/support/pages/node/6982093.
If you want to allow a null-pointer to be passed for your parameter, using OPTIONS(*OMIT) would accomplish the same thing as a new option OPTIONS(*NULL), and passing *OMIT as a parameter would accomplish the same thing as passing *NULL.
-IBM Power Systems Development
you have already %PASSED to test in pretty idiomatic way if a parameter exists (or %OMITTED to check explicitly for omission)