Strip

. Futures and options trading: Triple-option contract consisting of one call option and two put options at the same exercise price and expiration date, and for the same underlying asset.

2. Securities trading: Separating a fixed interest bond into two new and distinct financial instruments: the corpus (principal part) and coupon (interest part) sold separately to suit the needs of different types of investors. Those seeking capital appreciation buy the corpus (also called principal strip), those seeking a fixed income stream buy the coupon. Called gilt strip in UK.