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.
Definition of knack. 1 : a special ready capacity that is hard to analyze or teach. 2a : a clever trick or stratagemb : a clever way of doing something.