straddle

n. 1. The act of standing, sitting, or walking, with the feet far apart. [ 1913 Webster ]

2. The position, or the distance between the feet, of one who straddles; as, a wide straddle. [ 1913 Webster ]

3. 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. [ Broker's Cant ] [ 1913 Webster ]