Question: Suppose you purchase one Texas Instruments August $75 call contract quoted at $8.30 and write one Texas Instruments August $80 call contract quoted at $6.10.

Suppose you purchase one Texas Instruments August $75 call contract quoted at $8.30 and write one Texas Instruments August $80 call contract quoted at $6.10. If, at expiration, the price of a share of Texas Instruments stock is $78, your profit would be _________.

$850

$280

$80

$120

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