IBM shares currently sell for $154. Some of its 3-month European options, at varying strike prices, currently sell for the following premiums.

Description	Maturity	Strike	Premium
IBM 135 call	3 months	135	18.65
IBM 155 call	3 months	155	4.10
IBM 170 call	3 months	170	0.44
IBM 135 put	3 months	135	1.38
IBM 155 put	3 months	155	6.60
IBM 170 put	3 months	170	18.74

In setting up a bear spread for IBM in the question above, instead of using the puts, you decide to use the calls. You sell the 135 call and buy the 155 call. Which is correct if the stock price at expiration is 130?

Group of answer choices

Payoff +$20

Payoff -$20

Profit +$15

Profit -$25