1. Click on “Duplicate” in the navigation.
  2. Choose a product whose settings you want to duplicate.
  3. Select the products you want to copy the product option settings to.
  4. Press the duplicate button.

You can also setup default option settings:

For this go to the “Settings” tab, choose a default setting and click Save (at the bottom of the page). 

On the settings page you can also connect product options with auto image swatches or global images (doesn't work for virtual products)

Just enter the names of the product options you want to be connected. 

For Global auto images make sure your variants are connected to images in the Shopify Variant System