Consider a bull spread where you buy a 40-strike put and sell a 45- strike put. Suppose = 0.30, r = 0.08, = 0, and T = 0.5. Use the excel spreadsheets when you compute gamma and vega. Use the normal table when you compute delta. a. Suppose S = 40. What are delta, gamma, and vega? b. Suppose S = 45. What are delta, gamma, and vega?

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