legging

Etymology

leg + -ing

noun

1. A covering, usually of leather, worn from knee to ankle.
2. Tight fitting leg coverings worn, for example, to gym.
3. One of the legs of a pair of trousers.
   Take the legging and turn up the cuff.
4. The process of putting a series of three or more options strikes into the stock market.
   As a practical matter, you cannot put on these positions simultaneously at reasonable prices. In order to achieve these positions at a reasonable risk/reward profile, you must put the positions in a series of separate trades. This process is called legging. 2000, Michael Williams, Amy Hoffman, Fundamentals of Options Market, McGraw Hill Professional, page 128

verb

1. present participle and gerund of leg