For Call ratio backspread. explain:

When to use the strategy? (explain in your own words and in no more than 5 sentences)

How or when you would profit from the strategy? (explain in your own words and in no more than 5 sentences)

How or when you would lose from the strategy? (explain in your own words and in no more than 5 sentences)

Actions Products- 13) Load Asset Views Settings Option Valuation Equity/IR 12 Solver (Strike) 14 save en 1) Deal 1 31) Pricing o Graph Y-Axis X-Axis ) Deal 2 Scenario 33)Matrix 14) Volatility Backtest Table Profit & LOoss Price 07/19/2017 09/02/2017 10/17/2017 8 Current Spot Underlying 16 13.545 AMD US Equity Probability Brealk-Even Track Annotate c, Zoom Brack-Eva Current Underlyine Frofit&IoaR: 1012017 100 0.00 1.00 3.00 .00 10.00 11.00 12.00 1300 4.00 5,00 16.00