Please answer both questions:

1. You are cautiously bullish on the common stock of the Wildwood Corporation over the next several months. The current price of the stock is $62.00 per share. You want to establish a bullish money spread to help limit the cost of your option position. You find the following option quotes:

Wildwood Corp Underlying Stock price: $62.00
Expiration	Strike	Call	Put
June	57.00	9.70	3.20
June	67.00	2.60	8.70

Ignoring commissions, the cost to establish the bull money spread with calls would be ________.

		$460
		$1230
		$710
		$460 income rather than cost

2.

You buy one Microsoft August 60 call contract and buy one Microsof August 60 put contract. The call premium is $2.25 and the put premium is $3.50. Your strategy will be profitable only if the stock price is __________ in August.

		between $54.25 and $65.75
		None of the choices
		lower than $54.25
		either lower than $54.25 or higher than $65.75
		higher than $65.75