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The current price of a nondividing-paying stock is 40 and the continuously compounded risk-free interest rate is 8%. The following table shows put option premiums

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The current price of a nondividing-paying stock is 40 and the continuously compounded risk-free interest rate is 8%. The following table shows put option premiums for three-month European options of various exercise prices: Exercise Price Put Premium 35 0.44 1.99 45 5.08 40 the three-month stock price such that a call 35-45 bull spread and a put 40-45bear spread have the same profit

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