Suppose you purchase one TI stock call option contract with an exercise price of $65 for premium of $7 (per share) and write one TI call option contract with an exercise price of $70 for a premium of $5 (per share). If, at expiration, the price of a share of TI stock is $68, your profit would be _____. Note one option contract gives the right to buy (or sell) 100 shares of underlying stock.

What is the break-even point?