Question: You buy a call option with X = $ 5 2 and write a call with X = $ 6 4 . The options are

You buy a call option with X = $52 and write a call with X = $64. The
options are on the same stock and have the same expiration date. One of
the calls sells for $5; the other sells for $8.
a. Draw the payoff graph for this strategy at the option expiration date.
b. Draw the profit graph for this strategy.
c. What is the break-even point for this strategy?
d. Are you bullish or bearish on the stock?

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