(n.) A stock option giving the holder the double privilege of a "put" and a "call," i. e., securing to the buyer of the option the right either to demand of the seller at a certain price, within a certain time, certain securities, or to require him to take at the same price, and within the same time, the same securities.
STRADDLE
Meaning of STRADDLE in English
Webster's English dictionary. Английский словарь Webster. 2012