Editing Straddle (section)

==Straps and strips==
{{multiple image
 | image1 = Optsioonid Strap.png
 | alt1 = 
 | image2 = OptsioonidStripPO.png
 | alt2 = 
 | footer = Rough example payoff diagrams of a strap (left) and a strip (right)
}}

'''Straps''' and '''strips''' are modified versions of a straddle.<ref>{{cite web |title=Strap Explained |url=https://www.theoptionsguide.com/strap.aspx |website=www.theoptionsguide.com |access-date=5 January 2022}}</ref> Whereas a straddle consists of one put and one call at the same strike price, a strap consists of two calls and one put at the same strike price, while a strip consists of one call and two puts. Like a straddle, a strap or a strip allows the trader to profit from a large move in either direction, but while a straddle is directionally neutral, a strap is more bullish (used by a trader who considers an increase more likely than a decrease), and a strip is more bearish (used by a trader who considers a decrease more likely than an increase).<ref name="Hull 2006 options 234-236"/>