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Strap Straddle

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A strap is a straddle tilted bullish: two calls and one put at the same strike and expiration, so an upward move pays about twice what an equal move down would. The debit is larger than a plain straddle's and it is the maximum that can be lost.

Three option symbols are built from your strike and expiry, each priced from on demand bid, ask and previous close beside the underlying's last trade. The sheet reports the total premium and the two breakevens, which sit at different distances from the strike because of the two to one weighting.

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