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 ?
I have often wondered whether the two Bulleid 4-DD units could really be described as double-deckers, since they lacked two distinct decks (Letters, PE July).
It may be noted that double-decker buses had vanished decades ago from Lahore and other cities of Punjab but the same have been revived for the promotion of tourism.
If the UK were to adopt "double-decker" motorways, we could double the amount of road space with very little impact on the surrounding countryside.
The CM borrowed Rs200 from Khawaja Hassan to buy the ticket for bus which took him round the Gaddafi stadium.Shahbaz Sharif assured that the government will soon try to overcome the traffic-related difficulties caused by the construction of Orange Line Train Service."Children aged below 10, handicapped and senior citizens will be able to travel for free in the double-decker bus", he said, adding however, that the students will have to spend only Rs100 to enjoy the ride around historical city of Lahore.
when a tow truck belonging to Crockett Interstate Towing was in the process of recovering a disabled 1986 Ley land Olympian double-decker bus on the northbound shoulder of I-5, police said.
These vehicles offer a 10 percent increase in pallet carrying capacity compared to a standard 13.6m double-decker. The wide-radius edge capping and vortex generator at the rear smooth airflow and reduce fuel consumption.
QWHAT happened to the red double-decker driven by Cliff Richard in Summer Holiday?
Summary: A double-decker bus has had it's top ripped off after crashing into a low railway bridge in Essex.
More often seen speeding past Trafalgar Square, British-style double-decker buses are making a comeback in Baghdad, the latest sign that Iraq's capital is on the road to recovery after years of war and sanctions.
A SCHOOL bus driver who injured 12 students when he crashed his double-decker vehicle into a bridge has been spared jail.
CAIRO - London is famous for its red, double-decker buses, but then again Alexandria is famous for its double-decker trams.
EIGHTEEN commuters were injured yesterday when the entire roof of a double-decker bus was torn off after it hit a tree.