1. Explain how an aggressive bear spread can be created using put options.

2. A call with a strike price of $60 costs $6. A put with the same strike price and expirations date costs $4. Construck a table that shows the profit from a straddle. For what range of stock prices would the straddle lead to a loss

3. Construct a table showing the payoff from a bull spread when puts with strike prices and are used ( > ).