A "straddle" is a trading strategy used in the financial markets, particularly in options trading. It involves buying both a call option and a put option for the same asset, with the same strike price and expiration date. This strategy is useful when a trader believes that the price of the asset will move significantly, but is unsure of the direction—up or down. By using a straddle, traders can potentially profit from large price swings, regardless of whether the market goes up or down. However, it’s important to note that this strategy can be risky, as it requires the asset to move enough to cover the costs of both options, including fees and commissions.