1. Consider six-month call options with strike prices of $35 and $40 per share and premiums of $6 and $4 per share, respectively. What is the maximum gain per share when a bull spread is created from the calls?

A. $3 B. $5 C.$4 D.$2

2. Consider six-month call options with strike prices of $35 and $40 per share and premiums of $6 and $4 per share, respectively. What is the maximum loss per share when a bull spread is created from the calls?

A. $-5 B. $0 C.$-3 D.$-2

3. Consider six-month put options with strike prices of $35 and $40 per share and premiums of $4 and $6 per share, respectively. What is the maximum gain per share when a bear spread is created from the calls?

A. $2 B. $4 C.$6 D.$3

4. Consider six-month put options with strike prices of $35 and $40 per share and premiums of $4 and $6 per share, respectively. What is the maximum loss per share when a bear spread is created from the calls?

A. $-4 B. $-2 C.$-6 D.$-10