A straddle is any set of offsetting positions on personal property. One example, is a put and call option on the same number of shares of a particular security, with the same exercise price and expiration date.
Definition of flack for English Language Learners. : a person whose job is to make people like or be interested in someone or something.
flack catcher, flak, flak catcher. 1  spokesperson, representative, interpreter, voice - an advocate who represents someone else's policy or purpose; the meeting was attended by spokespersons for all the major organs of government.