An Asian strip (as) is simply a series of Asian options all with the same strike but each with a different expiry date.
Each individual Asian option is usually for a period of one month (although this is editable). For example, if you enter into a 6-month average strip, it usually entails six individual Asian options, one a month for the next six months. The expiry of each option is at the end of the relevant month.
Each individual option is based on the fixings set for its duration only. So even if the average strip is for six months and consists of six average rate options, each average rate option is for one month only. Moreover, each average rate option is settled on its own expiry date, in the same way as a regular average rate option. It is not settled on the average strip's expiry date.
Pricing an Asian strip in SDX Commodities & Energy
When pricing an Asian strip note that:
You can enter into a composite or quanto version of an Asian strip (as).
As well as displaying a total price for the entire notional for the Asian strip itself (in the Results area), SD also shows a price per unit for each individual Asian option.
You see this in the Expiry Dates & Rates window which you access by clicking the Expiry Dates & Rates button in the Single Option page or the Expiry Details button in the Portfolio page.