Question: A trader creates a bear spread by selling a six-month put option with a $25 strike price for $2.15 and buying a six-month put option

A trader creates a bear spread by selling a six-month put option with a $25 strike price for $2.15 and buying a six-month put option with a $29 strike price for $4.75.

What is the maximum profit on the spread?

What is the maximum loss on the spread?

What is the breakeven point?

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