Please be sure to indicate profit or loss.

(Collar or Hedge Wrap) Boris and Bela 100 shares of XYZ @$50. It rises in price and to protect their profit and take in income they hedge their position by buying 1 Put with strike of 55 for $3 per share quoted price and sell 1 Call with a strike $65 for $4 per share quoted price. Find the P&L, Y, at expiration if the stock price is

$40 ___________ (per share quoted price)

$60 ____________ (per share quoted price)

$75 ____________ (per share quoted price)

(Stock Repair strategy) Beulah and Biff buy 100 shares of XYZ @ $50. It declines in price to $40 per share. They have hopes of a modest recovery and want to break-even on the trade. They buy 1 Call with a strike of $40 for $8 per share quoted price and sell 2 Calls with a strike of $45 for $4 per share quoted price. Find the P&L, Y, at expiration if the stock price is

$40 __________ (per share quoted price)

$45 ___________ (per share quoted price)

$60 ___________ (per share quoted price)