In March, a derivatives dealer offers you the following quotes for June British pound option contracts (expressed in U.S. dollars per GBP):

			MARKET PRICE OF CONTRACT
Contract	Strike Price		Bid		Offer
Call	USD1.44		0.0634		0.0642
Put			0.0234		0.0242
Call	USD1.48		0.0435		0.0443
Put			0.0406		0.0414
Call	USD1.52		0.0234		0.0242
Put			0.0634		0.0642

1. Assuming each of these contracts specifies the delivery of GBP 31,100 and expires in exactly three months, complete a table similar to the following (expressed in dollars) for a portfolio consisting of the following positions:

   1. Long one 1.48 call

   2. Short one 1.52 call

   3. Long one 1.44 put

   4. Short one 1.48 put

   Do not round intermediate calculations. Round your answers to the nearest cent. Enter the net initial costs as negative values. Use a minus sign to enter negative values. If the answer is zero, enter "0".

   June USD/GBP	Net Initial Cost		Long Call 1.48 Profit		Short Call 1.52 Profit		Long Put 1.44 Profit		Short Put 1.48 Profit		Total Net Profit
   $1.40	$		$		$		$		$		$
   $1.44	$		$		$		$		$		$
   $1.48	$		$		$		$		$		$
   $1.52	$		$		$		$		$		$
   $1.56	$		$		$		$		$		$