Definition of jelly rolls:
(n) :
(US) A cylindrical cake containing jelly (jam).
(n) :
(derogatory, slang) An overweight person.
(n) :
(by extension, US slang) The female genitalia, sexual intercourse, or a lover.
(n) :
a male hairstyle, common in the 1950s USA, a roll of greased hair longitudinally aligned front to back at the middle of the head
(n) :
(finance) An options position consisting of two calls and two puts, which can be seen as a combination of synthetic long and short positions with different expiries, or a combination of a put time spread and a call time spread.