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 classic literature ?
My double followed my move- ments; our bare feet made no sound; I let him in, closed the door with care, and, after giving a call to the second mate, returned on deck for my relief.
He was not a bit like me, really; yet, as we stood leaning over my bed place, whispering side by side, with our dark heads together and our backs to the door, anybody bold enough to open it stealthily would have been treated to the uncanny sight of a double captain busy talking in whispers with his other self.
I took a peep at my double, and discovered that he had not moved, his arm was still over his eyes; but his chest heaved; his hair was wet; his chin glistened with perspira- tion.
It's never done a flip in its life, much less a double flip.
SOCRATES: He only guesses that because the square is double, the line is double.
To the Boy:) Tell me, boy, do you assert that a double space comes from a double line?
The problem is a double one, and requires a double solution.
Ah, friends, do ye divine also my heart's double will?
All here,' said Double, tying up his throat with sleepy carefulness in a shawl.
said Double, tasting it as if he were in the Docks, with hours to spare.
We have been moving chests of drawers over his head, we have knocked double knocks at the street-door, we have made the servant-girl fall down stairs several times (she's a light weight, and it don't hurt her much,) but nothing wakes him.
We have been distracted with fears that you were dead, Sir,' said Dick, gently sliding to the ground, 'and the short and the long of it is, that we cannot allow single gentlemen to come into this establishment and sleep like double gentlemen without paying extra for it.