BTO STO X X Qty -10 10 -10 10 Price $5.14 $4.85 $7.48 $6.08 Total $5,140 -$4,850 $7,480 -$6,080 X X 26. Note the following spreads: I: Iron Condor Option/Type Strike SPY June 3 Call 405 SPY June 3 Call 410 SPY June 3 Put 380 SPY June 3 Put 375 II. Bull Call Spread Option/Type Strike SPY June 3 Call 390 SPY June 3 Call 395 III. Bull Calendar Spread Option/Type Strike SPY June 3 Call 390 SPY June 17 Call 390 STO BTO X Qty 10 -10 Price $11.90 $9.28 Total -$11,900 $9,280 X BTO STO X Qty -10 10 Price $11.87 $14.42 Total $11,900 $14,420 X Which one has the highest return on risk