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.
A press agent; a publicist. v. flacked, flackÂ·ing, flacks. v.intr. To act as a press agent: flacking for a movie studio. v.tr. To act as a press agent for; promote: authors who tour the country flacking their books.