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You buy a 45 call for 4 and sell a 50 call for 2. Stock ends at $47. Payoff = ____________ Profit = _____________ You

You buy a 45 call for 4 and sell a 50 call for 2. Stock ends at $47.

Payoff = ____________ Profit = _____________

You sell a 48 put for 5 and buy a 42 put for 2. Stock ends at $41.

Payoff = ____________ Profit = _______________

You buy two 45 calls for 4 each and sell a 50 call for 2. Stock ends at $56.

Payoff = _______________ Profit = ________________

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