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 ?
Thome then doubled in the sixth and scored on Paul Konerko's two-bagger.
Colabello hit a one-out double to center field - his league-leading 30th two-bagger and 45th extra-base hit - to chase Hawes.
Freeman finished 2017 with 35 two-baggers despite missing 45 games due to injury.
The only other player to collect 40-plus two-baggers in fewer than 400 at-bats was fellow Canadian Larry Walker, with 44 in 395 AB in the strike-shortened 1994 season.