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 ?
However, Werder themselves are looking to complete a double scalp, as the German club have already eliminated Spanish opposition from the tournament by defeating Celta Vigo 3-0 on aggregate in the last 16.
Now over 70, Allan Biggs continues to pick up vital sets for Manweb C in Division Three, his double scalp against YMCA C helping secure a 6-4 win.
Mluleki Nkala (22, 7) - Yet to fulfil the promise suggested by his Test debut against England in 2000 when as a 19-year-old at Trent Bridge his five wickets, including the double scalp of Nasser Hussain, threatened to throw the match Zimbabwe's way.