In mid-May there are two call options available on ABC stock:

Call #Exercise PriceExpiration dateMarket Price of Option

1$50August 19$8.40

2 $60August 19$3.34

Assume you form a portfolio of one call # 1 held long and two calls #2 held short.Create a Table showing the net profits in this position if the price of ABC stock is $40, $45, $50, $55, $60, $65, $70, and $75.Under what market conditions will this strategy generate profits?