You are cautiously bullish on the common stock of the Wildwood Corporation over the next several months. The current price of the stock is $51 per share. You want to establish a bullish spread to help limit the cost of your option position. You find the following option quotes:

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

$1,065

$405

$655

$405 income rather than cost

Wildwoood Corp Underlying Stock price: $51.00 Expiration Strike Call Put June 46.00 8.60 2.10 June 51.00 4.55 3.10 June 56.00 2.05 7.60