Double(redirected from doubled up)
Also found in: Dictionary, Thesaurus, Medical, Legal, Idioms, Encyclopedia.
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.