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A bearish spread is the purchase of a call with exercise price X_2 and the sale of a call with exercise price X_1, with X_2

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A bearish spread is the purchase of a call with exercise price X_2 and the sale of a call with exercise price X_1, with X_2 greater than X_1. Graph the payoff to this strategy and compare it to the figure in Lecture 18 slide 20 ..."Value of a bullish spread position at expiration

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