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.
to fly swiftly; to pass over quickly; to hasten; to flit as a light substance Fleet to slip on the whelps or the barrel of a capstan or windlass; -- said of a cable or hawser