# Strap

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**The Strap** is similar to the Straddle in terms of betting on rising volatility. The Strap usually consists of **two call options and one put option with the same strike price and the same expiration.**

You can think of the Strap as 🐂 a bullish Straddle 🐂: “**I don’t care what the price will be, but if it changes significantly in either direction during the period of holding Strap, I win. And I win even more if the increase in volatility leads to an increase in the price of the asset.”**

**The Strap has a limited cost and unlimited potential profit.**

{% hint style="info" %}
Buying one Strap is like buying three ATM options at the same time - two ATM calls and one ATM put.&#x20;
{% endhint %}
