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.
The word flack was first used as a noun meaning publicity agent during the late 1930s. According to one rumor, the word was coined in tribute to a well-known movie publicist of the time, Gene Flack. Another rumor holds that flack derives from a similar-sounding Yiddish word for someone who talks about someone else's affairs.