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 ?
While the majority of the audience were bent double as John sang of his disappointment at the demise of the cardboard strip in a Bounty bar (Mutiny Over the Bounty), and related tales of his Scottie dog, Kirsty, the couple in front of me sat impassive.
My introduction to fighting fitness was a three-minute burst flat-out on the rowing machine which left me coughing like a 60-a-day smoker and bent double searching for breath.
With the rod bent double, he held on as the skate pulled the 4.5-ton vessel along towards the west coast of Scotland.
BENT DOUBLE: Darren Bent scores his second, and Villa's third, of the afternoon ...
Mall manager Siobhan McConnell said: "People were bent double with laughter."
He was bent double and acting strangely, fiddling with something at the bottom of his trousers, retching and spitting.
BENJANI accepts he has a tough task on his hands to break up Sunderland's Kenwyne Jones-Darren Bent double act.
You could never hurry for if you were not bent double halfway up, you had already collapsed.
BENT DOUBLE: Marcus Bent converting his second of three to help Wigan to the points in the festive goal spree at the JJB; SANTA PAWS: Rovers treble star
Amy Garton-Hughes, 14, from Wallasey, has a genetic disorder which leaves her bent double and losing her sight, hearing and teeth.
Alan Curbishley is already seeing the benefits of completing his 'Bent double'.
Mrs Cox said: "He could not get on the stretcher and when he came out of the house he was bent double and could not straighten up."