The table on the left shows the prices of calls and puts at different strike prices of options on Alphabet Inc. $($GOOG$)$ on $15$th March $2019.$ The expiration of all options is the same $-$ September $20,2019.$ The market price of the GOOG stock on $14$th March $2019$ is $$1,185\mathrm{.}55.$ Remember to make buy or sell decisions of options based on bid$/$ask prices $($not the last prices$).$

Answer the following questions:

$1.$a$)$ Calculate profits of long bull spreads using call and put options with strike prices of $$1,125$ and $1,240$ if the GOOG share price becomes $$1,210\mathrm{.}55$ on the expiration date.

b$)$ At what price$($s$)$ would profit be zero in both strategies? Show your calculations.

c$)$ What can you conclude about bull strategies using call and put options? Comment on what would happen if you would devise long bear spread strategies using the same call and put options.

d$)$ What other strategies can you devise with the same strike prices using call and put other than a single strike price of $$1,220$ if you believe the stock prices can go up to $$1,400$ or can go down to $$1,000?$ Explain. What strategy would be the best one? Calculate the profit of the best strategy. At what price range would your loss be maximum?

$2.($a$)$ You expect that the stock price will be around $$1,100$ and will not move that much soon. You identify three strike prices, $$1,050,$ $$1,100,$ and $$1,150,$ which enable you to devise a strategy to maximize the profit. What would be the strategy? Find the profit for such a strategy when the stock price is $$1,120.$ Is this the maximum profit? If not, at what price can you maximize the profit?

$($b$)$ If the stock price unexpectedly goes below $$1,050,$ how will the strategy affect your profit? Explain with calculation.

$($c$)$ Find the ranges of prices for which you will have a profit.