The Collaborative International Dictionary of English v.0.48:

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.
      [1913 Webster]

   2. To stand with the ends staggered; -- said of the spokes of
      a wagon wheel where they join the hub.
      [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

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.
   [1913 Webster]

The Collaborative International Dictionary of English v.0.48:

Straddle \Strad"dle\, n.
   1. The act of standing, sitting, or walking, with the feet
      far apart.
      [1913 Webster]

   2. The position, or the distance between the feet, of one who
      straddles; as, a wide straddle.
      [1913 Webster]

   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]
      [1913 Webster]

WordNet (r) 3.0 (2006):

straddle
    n 1: a noncommittal or equivocal position
    2: a gymnastic exercise performed with a leg on either side of
       the parallel bars
    3: the act of sitting or standing astride [syn: straddle,
       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, straddle]
    3: be noncommittal