Peter Duniho wrote

If there is no intent to land, I'd say 91.119 certainly can be read as
just such a prohibition.

From the FAA's Pilot/Controller Glossary:

CLEARED FOR THE OPTION- ATC authorization for an aircraft to make a touch-
and-go, low approach, missed approach, stop and go, or full stop landing at
the discretion of the pilot. It is normally used in training so that an
instructor can evaluate a student's performance under changing situations.

LOW APPROACH- An approach over an airport or runway following an instrument
approach or a VFR approach including the go-around maneuver where the pilot
intentionally does not make contact with the runway.

Bob Moore