Question:
Is there a compiler or run-time option to specify whether to use static binding or dynamic binding for function calls? This option, if it exists, may actually override the virtual mechanism.

Answer:
No, such compiler option doesn’t (and shouldn’t) exist. The dynamic binding mechanism may be overriden explicitly when you use a fully qulaified name of a member function:

Date date;date.Date::Display(); //static binding

Even if Display() happens to be virtual, the fully qualified call above will resolve statically.

I see no reason why compilers would need this feature. The choice between static and dynamic binding is solely a programmer’s choice, and the binding is dynamic under very strict conditions:
1) the function is virtual.
2) the function is called through a pointer or a reference to an object.

Otherwise, the call is resolved statically.