Betty and Bob buy 100 shares of stock at $50 per share and sell 1 Call with strike 50 for $6 and sell 1 call with strike 60 for $3.

1. Find the Profit or Loss at expiration if the stock price is

$45 ___________

$60 ___________

$75 ___________

Your answers should be as per share quoted price. Be sure to indicate profit or loss.

2. Find the lower and upper break-even points. Your answers should be correct to 2 places after the decimal point.

Lower __________; Upper ____________