Question: For each option strategy listed below, explain how the strategy is put together and why an investor might use it. (a) Covered call (b) Bull

For each option strategy listed below, explain how the strategy is put together and why an investor might use it.

(a) Covered call

(b) Bull spread

(c) Bear spread

(d) Long straddle

(e) Long strangle

(f) Butterfly spread

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