No, it isn't. Also, there are different ways to kill somebody with a knife, so you need to specify how.
It needs substantial rewording. Here are a few possibilities.
You have two choices on how to die. You can jump, or be stabbed/have your throat slit.
You can either jump or face the knife. It's your choice.
How do you prefer to die? You can either jump to your death or be stabbed/have your throat slit.