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You set up the following strategy Using a $45 put @ 6.90 and a $55 put @ 15.40. The breakeven price is You set up a Bull Spread on 100 shares of Home Depot using one $114 call @ $3.15 and one $121 call @ $3.02. At expiration Home Depot is trading at $113.00 To set up the spread you go long one $ option and short one $ option. To break even on this spread the underlying stock must go to $ You hold the spread to expiry so your profit (loss) is $