Double

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Double

The purchase of a call and a put on the same underlying asset with the same strike price and the same expiration date. A double enables one to profit from whatever price movement the underlying takes. That is, if the price goes up, the holder exercises the call, and if it goes down, he/she exercises the put. If one of the options is in the money, the other must be out of the money.
References in periodicals archive ?
Lady Anne and Prince Edward cannot be doubled, as in the current Sam Mendes production, it seems, because they are "principals.
North Hollywood rolls: Erick Melara, Andy Gutierrez and winning pitcher Adrian Menchaca doubled and Mike Rodriguez drove in three runs as North Hollywood (14-15, 10-4) routed Canoga Park 11-1 at home to remain in contention for a share of first place in the Sunset 6.
Chaminade 3, Cleveland 2: Spencer Gordon doubled and drove in two runs to lead the Eagles (4-0) past the Cavaliers (1-3) at Chaminade, where starter and winner Jason Urquidez struck out seven in six scoreless innings.
Highland 14, Paraclete 4: Jason Kubel tripled and doubled, and Brandon Golphenee and John Santor homered to lead the host Bulldogs (1-1) past the Spirits (1-1), who fell behind 9-1 after two innings.