,noun, verb, strapped, strap⋅ping.| 1. | a narrow strip of flexible material, esp. leather, as for fastening or holding things together. |
| 2. | a looped band by which an item may be held, pulled, lifted, etc., as a bootstrap or a ring that standing passengers may hold on to in a bus, subway, or the like. |
| 3. | a strop for a razor. |
| 4. | a long, narrow object or piece of something; strip; band. |
| 5. | an ornamental strip or band. |
| 6. | shoulder strap. |
| 7. | watchband. |
| 8. | Machinery. a shallow metal fitting surrounding and retaining other parts, as on the end of a rod. |
| 9. | Nautical, Machinery. strop (def. 2). |
| 10. | to fasten or secure with a strap or straps. |
| 11. | to fasten (a thing) around something in the manner of a strap. |
| 12. | to sharpen on a strap or strop: to strap a razor. |
| 13. | to beat or flog with a strap. |
,noun, verb, stropped, strop⋅ping.| 1. | any of several devices for sharpening razors, esp. a strip of leather or other flexible material. |
| 2. | Also, strap. Nautical, Machinery.
|
| 3. | to sharpen on or as if on a strop. |

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, maturity and underlying asset. Also referred to as a "triple option".
Investopedia Commentary
A strap option is used when a trader believes 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.
Related Links
Options Basics Tutorial
See also: Call, Put, Straddle, Strangle, Strike Price, Strip
strap
strap (strāp)
n.
A strip or piece of adhesive plaster. v. strapped, strap·ping, straps
To support or bind a part, especially with overlapping strips of adhesive plaster.