Question: You construct a bull spread using a put option with a strike price of $15 and another put option with a strike price of $20.

You construct a bull spread using a put option with a strike price of $15 and another put option with a strike price of $20. Suppose the market price of the underlying is $24, the payoff of the bull spread is

-$4.00

$5.00

$0.00

-$1.00

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