Create the payoff diagrams for the following strategies. Ignore the option premium. "E" is the exercise/strike price.

#1

Bull call spread

Buy one call with E=$40

Sell one call with E=$50

#2

Bear put spread

Buy one put with E=$50

Sell one put with E=$40

#3

Strangle

Buy one call with E=$50

Buy one put with E=$40

#4

Long Butterfly

Buy one call with E=$50

Buy one call with E=$30

Sell two calls with E=$40

#5

Collars

Buy one share of stock

Sell one call at E=$50

Buy one put at E=$30