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Strap

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Strap
An options strategy created by being Long in one put and two call options, all with the exact same Strike Price.
    
Also known as a "triple Option",  is used when a trader thinks that the Future price movement of the Underlying Security Will be large and more likely up than down. By adding two call options the trader has a large gain if he or she is right about the large upward movement. But if the forecast is wrong and the price has a large Reversal, the trader is protected by the put Option.
Posted by  Privatebanking.com
 
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