Hooking “delete_option_rewrite_rules” for rewrite rule addition

Set the option that stores the rewrite configuration to autoload via the 4th argument of add_option:

add_option( 'my_plugin_option', $my_plugin_options, '', 'yes' );

It’ll get loaded and cached with the query that already runs on every page load, so it’s a non-issue.

Then you can add your rewrite rules on the correct hook, which is init, and you won’t have to worry about it.