A strap is a non directional bullish bias long option play.  It is comprised of two calls and one put with the same strike and expiration.  One may actually structure the trade with a greater ratio of calls to puts depending upon how bullish the trader wishes to design the trade.  The risk is the debit in the trade and the reward is theoretically unlimited.  Study the risk graph and you will gain insight into the risk and reward of this position.  Best Robin

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