An investor buys for $3 a 3-month European put with a strike price of $35 and sells for $1 a 3-month European put with a strike price of $30. The cost of the strategy is $3-$1 = $2. Therefore, the payoff and the profit from this bear spread strategy are: Profit Stock Price Payoff Profit Range ST 30 30

- An investor buys for $3 a 3-month European put with a strike price of $35 and sells for $1 a 3-month European put with a strike price of $30. The cost of the strategy is $3$1=$2. Therefore, the payoff and the profit from this bear spread strategy are