CALL PUT Exercise Price March April May March April May (X) 150 20.00 21.50 23.00 3.00 3.50 4.45 155 15.50 16.25 17.75 4.10 4.90 5.90 160 12.50 12.85 13.50 5.30 6.00 6 XD 165 8.10 9.00 10.65 7.00 8.00 9.20 170 5.20 6.30 8.50 9.40 10.75 12.45 175 3.25 4.25 5.75 13.00 14.30 14.20 180 2.50 3.40 4.45 15.00 16.10 17.75 INPUT OUTPUT Action Date Option Exercise Price Stock Price Premium (Pay Rec Payoff Profit/Loss BE (Stock) HPR% Buy March Call 150 175 Buy Call 165 165 April May March 170 Buy Buy Sell 160 Put Put 180 162 Put 165 125 Sell Put 165 175 155 Sell Call 180 May April May April May March BE2(Stock 150 165 Sell Sell Call Straddle 175 200 Buy Straddle 180 185 INPUT OUTPUT Action Date Option Exercise Price 1 Exercise Price 2 Stock Price Premium (Pay Rec Total Payoff Total Profit Loss Bull Buy March 150 160 170 Call Spread Buy April 160 180 162 Bull Put Spread Bear Put Spread Buy May 170 180 150 Buy April Bear Call Spread 160 170 170 Butterfly Buy March 150 160 165 Spread Butterfly Call Spread Sell May 170 180 200