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An example of a bull spread strategy involves: ( 1 ) Buying one call on IBM stock with X = $ 8 0 , and

An example of a bull spread strategy involves: (1) Buying one call on IBM stock with X = $80, and C = $20.99 and (2) Write (or sell) one call on IBM stock with X =110 and C =2.24. What are its profit, given that the stock price in one month can only be $0, $15, $30, $45, $60, $75, $90, $100, $120, $135, $150, $165, or $180? Please also draw a graph showing this. And answer: Why do we call it a bull spread? (In Excel)

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