In November, you believe that XXX Company, which is currently trading at $85 per share, will increase to $95 per share or more over the next month or two. You sell 5 XXX December 85 puts for a premium of $3.00. At the same time you buy 5 XXX December 80 Puts at a premium of $1.00 (sell December Puts with strike of $85 and $3.00 premium and buy December Puts with strike of $80 and premium of $1.00). Determine your total gain or loss if

1. the stock price increase to $93 per share at expiration
2. the stock price decrease to $76 per share at expiration
3. the stock price decreases to $83 per share at expiration