Source : Webster's Revised Unabridged Dictionary (1913)

Straddle \Strad"dle\, v. i. [imp. & p. p. {Straddled}; p. pr. &
   vb. n. {Straddling}.] [Freq. from the root of stride.]
   1. To part the legs wide; to stand or to walk with the legs
      far apart.

   2. To stand with the ends staggered; -- said of the spokes of
      a wagon wheel where they join the hub.

Straddle \Strad"dle\, v. t.
   To place one leg on one side and the other on the other side
   of; to stand or sit astride of; as, to straddle a fence or a
   horse.

Straddle \Strad"dle\, n.
   1. The act of standing, sitting, or walking, with the feet
      far apart.

   2. The position, or the distance between the feet, of one who
      straddles; as, a wide straddle.

   3. A stock option giving the holder the double privilege of a
      ``put'' and a ``call,'' i. e., securing to the buyer of
      the option the right either to demand of the seller at a
      certain price, within a certain time, certain securities,
      or to require him to take at the same price, and within
      the same time, the same securities. [Broker's Cant]

Source : WordNet®

straddle
     n 1: a noncommittal or equivocal position
     2: a gymnastic exercise performed with the legs straddling the
        parallel bars
     3: the act of sitting or standing astride [syn: {span}]
     4: the option to buy or sell a given stock (or stock index or
        commodity future) at a given price before a given date;
        consists of an equal number of put and call options
     v 1: sit or stand astride of
     2: range or extend over; occupy a certain area; "The plants
        straddle the entire state" [syn: {range}]
     3: be noncommittal [ant: {side}]