Low and/or reduced in price.
Of poor quality.
Of little worth.
(of an action or tactic in a game of skill) Underhand or unfair.
the cheap trick of hiding deadly lava under pushable blocks
Stingy; mean; excessively frugal.
Insurance is expensive, but don't be so cheap that you risk losing your home because of a fire.
Trading at a price level which is low relative to historical trends, a similar asset, or (for derivatives) a theoretical value.