Double

(redirected from two-base hit)
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Related to two-base hit: Extra base hit

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 ?
He accomplished the feat for the Cardinals in 1946 with 50 two-base hits and 20 three baggers.
Rogers Hornsby clubbed 405 during the 1920s, Charlie Gehringer hit 400 during the 1930s, and Todd Helton totaled 431 two-base hits in the 2000s.
During his career, Barry Bonds clubbed 601 doubles and never led the National League in two-base hits.