Straub's greatest race won him a silver medal at the 1980 Summer Olympics over 1500 metres representing East Germany, behind Sebastian Coe. In that race Straub surprisingly beat 800 metres champion Steve Ovett into third place. Needing a strategy to compete against the two more favoured and fast-finishing British runners, Straub suddenly accelerated with still 700 meters of the race remaining and then steadily increased his pace to the end, overhauled only by Coe and crossing the finishing line in obvious delight. British athletics coach George Gandy later said "If anyone deserved a gold medal, it was Straub". Straub also finished third at the 1977 and 1979 IAAF World Cups.