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 ?
Leslie, in his The Wolf Stript would lash out at contemporary moderates and dissenters for the "craft and artificial Management" of what he called their "little plots" (46).
He is said to have been especially hated and dreaded by the Sufis, whose practice he ridiculed, and whose faith amounts to little more than his own when stript of its mysticism.
These are small white tablets packaged in a white blister stript.
44 7 pieces stript Musleen 15 yds 4 [pounds 29 15 sterling]: 5 pcs 5 pcs plain ditto 4 20 3 pcs.
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.
Tobias Wells testified on another occasion that "he saw Sarah Tailor stript and on her backe he saw severall blacke spots and on her arme a great blacke spot about as broad as the hand.