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 ?
Kevin Youkilis, who was 3 for 5 with a pair of doubles, lofted a wall-scraping, RBI two-bagger in the seventh that missed being a Bucky Dent-style, three-run homer by about four feet.
Thome then doubled in the sixth and scored on Paul Konerko's two-bagger.
Colabello hit a one-out double to center field - his league-leading 30th two-bagger and 45th extra-base hit - to chase Hawes.