legging

noun

1. A covering, usually of leather, worn from knee to ankle.
2. Stretchy tight-fitting pants often worn by women or for exercise.
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.”

verb

1. (form-of, gerund, participle, present)present participle and gerund of leg