Abstract: A reel for winding and unwinding rolled strip into a reel shaft with a reel drum axially movable in a stationary reel housing. A positioning drive formed by a non-rotatable but axially movable piston-cylinder unit is utilized for spreading apart the segments of the reel drum. The segments are maintained in the spread-apart position by the force of a spring. A displacement drive formed by a piston-cylinder unit is used for axially moving the reel shaft. This reel makes it unnecessary to axially move the reel housing including positioning drives, drive motor, coupling and gear assembly by means of a displacement drive. Also, the provision of a rotary pressure supply for spreading the segments is unnecessary.