3. Construct payoff and profit diagrams for the purchase of a 1050-strike S&R call and sale of a 950-strike S&R call. What is the name of this strategy? S&R Index Purchased 1050-call Writing 950- call Total Payoff (cost +interest) Profit 900 950 1000 1050 1100 1150 1200 Pult diagram of the option 1 1950 b- Verify that you obtain exactly the same profit diagram for the purchase of a 1050-strike S&R put and sale of a 950-strike S&R put. S&R Index Purchased 1050- Put Profit Writing 950- Put Total Payoff -cost +interest) 900 950 1000 1050 1100 1150 1200