Welcome to SolidWorks forums Johnathon.
Not sure why you're not getting that option. You can also save the form tool as sldprt in the desired folder. Map that folder location in the design library. Now in the SolidWorks right click on that folder and select "make forming tool folder". This will make the sldprt file act as form tool.
You might also find this post helpful for your future reference
Thank you for getting back to me so quickly. When i went to school today I had no problem building the part and saving it as a forming tool in the design library. However, when I came back home today...it still will not let me open it from the design library. every time I click on the design library icon in the task pane to create a new folder i get this message:
"The folder 'C:\programdata\solidworks\solidworks2010\designlibrary' doesnt exist.
Do you want to remove it as a design library file location reference?"
Im not sure what this means, but i have been clicking "NO".
I downloaded the SolidWorks 2011 x64 student edition...is it possible that it is still has the 2010 version installed (refering to the message above that I get when right clicking the icon)?
I have honestly tried my hardest to read the different post about mapping the folder location, but I am unsure how to do it.
In my book it asks me to "change the directory: Program Files\ SolidWorks\Data\Design-Library\Forming Tools\Louvers. The problem is that after I locate the Data folder, there is no Design-Library folder after that?
Okay, so again I was surfing through the posts, and I actually found one that helped me out. Im not sure how to post the link on here but the topic and author was:
Design Library Default Location
Craig G (I think)?
Anyways, it gave a more dumbed down version on how to map the design library for me:) I think what happened was that I had 2011 SW student edition downloaded and the design library version was still 2010 version from the previous years download. Thank you very much for your help!...dont know what I would do without the forums:)!!!