There is a link to the manuals at the top of the page. The COBOL Programming Guide talks extensively about the process of compiling a program and the options available.
Changing compiler options can be very site-specific depending on what is running (Endevor, Xpediter, Debug Tool, etc) so your best bet on using the right solution is to contact your site support group.
Did you look at the TEST compiler option?
Did you look at the section titled Performance versus debugging capability?
In Production the load is compiled with the Test compiler option.
Is there any other way to bypass this option in exped.(or fix this issue) or can any one tell me how to switch off Test optimize compiler option.