spreader
 n.— «Another trader sounded more sanguine: “Big orders executed in a rapid fashion, coupled with spreaders there to help absorb some of the volatility, creates extreme swings.” A spreader is someone who simultaneously buys and sells two different futures contracts, seeking to profit on a change in the difference in price.» —“CBOT wheat volatility vexes analysts, irks traders” by Julie Ingwersen in Chicago Guardian (United Kingdom) Feb. 28, 2008. (source: Double-Tongued Dictionary)

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