E eBook Two British Pound (f) put options are available with exercise prices of $1.45 and $1.48. The premiums associated with these options are $0.02 and $0.04 per unt, respectively. One option contract represents 31,250. a. Describe how a bull spread can be constructed using these put options. What is the difference between using put options versus call options to construct a bull spread? A bull spread can be constructed with buying the select 9 put option and writing the select) put option. The difference between using tall and put options to construct a bull spread is that using put options results in a Select spread b. Complete the worksheet for the bull spread. Use a minus sign to enter loss values. If any of the answer is zero, enter to". Round your answers to the nearest cent Value of British Pound at Option Expiration $1.45 $1.48 $1.38 $1.55 Put $1.45 5 $ 5 $ Put $1.48 $ 5 $ $ Net 5 $ At option expiration, the spot rate of the pound is 51.45. What is the bull spreader's total gain or loss? Use a minus sign to enter tous values, it any, Round your answer to the nearest dollar $ d. At uption expiration, the spot rate of the pound is $142. What is the bear spreader's total gain or loss? Use a minus sign to enter tous values, I www. Round your answer to the nearest dollar $