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 ?
Lee ends her text with the interesting movement of narrating her ethnographic travels through Mississippi and encourages the reader to perform a double-dutch reading of her dialogues with the grannies.
For instance, in 1974 Harlemite David Walker founded a double-Dutch competition that is now a world-renowned event held annually at the Apollo Theater.
Harry Redknapp will end his striker search by deciding this weekend whether to go double-Dutch or dive in for Deano.
Watchin little double-dutch chocolate girls of shiny knees & African hair style.