Strip

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Strip

Variant of a straddle. A strip is two puts and one call on a stock. A strap is two calls and one put on a stock. The puts and calls have the same strike price and expiration date. See: Strap.

Strip

A bearish investment strategy in which an investor holds two puts and one call on the same underlying asset with the same expiration date and strike price. An investor uses a strip when he/she believes that the price of the underlying will decrease substantially. If it does, the investor stands to make a substantial profit by exercising the puts. On the other hand, if the underlying increases in price, the investor will not suffer a substantial loss because the strike price of the call protects him/her. See also: Call backspread ratio, Strap.

strip

A combination of two put options and a call option. The buyer of a strip profits from large variations in the price of the underlying asset, especially if it is moving downward.
References in periodicals archive ?
Mony Scales wt weights 13 5 Plums Red & White 1 A parcell of old Fashing [fashioned] Butnes [buttons] 12 14 yds stript Bengals 2 2 1 Leather Trunk [mi- ssing] 20 old [Indian?
The epitaph was written in 1728 by Franklin himself, 62 years before he died: "THE BODY / OF / BENJAMIN FRANKLIN / PRINTER / (LIKE THE COVER OF AN OLD BOOK, ITS CONTENTS TORN OUT AND STRIPT / OF ITS LETTERING AND GILDING), / LIES HERE, FOOD FOR WORMS, / BUT THE WORK SHALL NOT BE LOST, / FOR IT WILL (AS HE BELIEVED) APPEAR ONCE MORE / IN A NEW AND MORE ELEGANT EDITION, / REVISED AND CORRECTED / BY / THE AUTHOR.
He is like a Man who were stript, not only of his Cloaths, but of his Skin, and turn'd out in that Situation to combat with the rude and boisterous Element.
Stript to her Skin, see how she stooping stands, Nor scorns to rub him down with those fair Hands; And washing (lest the scent her Crime disclose) His sweaty Hooves, tickles him 'twixt the Toes.
T]he worn child compelled in mines to slave Through narrow seams of coal, a living grave, Driven from the breezy hill, the sunny glade, By ruthless hearts, the drudge of labor made, Unknown the boyish sport, the hours of play, Stript of the common boon, the light of day (23, lines 80-86) (14)