Traded punches? (5)
I believe the answer is:
dealt
'traded' is the definition.
(I've seen this before)
I cannot understand how the remainder of the clue works.
Can you help me to learn more?
(Other definitions for dealt that I've seen before include "Delta (anag.)" , "Distributed playing cards" , "Dispensed (cards)" , "Traded" , "Doled out" .)