Consider a bullish spread option strategy using a call option with a $30 exercise price at $5 premium and a call option with a $50 exercise price at $2.50 premium. If the price of the stock increases to $45 at expiration and each option is exercised on the expiration date, the net profit per share at expiration (ignoring transaction costs) is: 0-$1.50 $12.50 $8.50 O $13.50