You want to implement a bull call spread strategy on a stock, where the transactions are as follows:

Short a call option with strike K2

Buy a call option with strike K1

where K1 < K2, and the options are European.

The current stock price is $160 per share. Both call options expire in 3 months. Choose arbitrary strikes K1 and K2 such that K1 < K2 from the table below and use their corresponding call option prices as premiums.

Strike price ($)	Call option price ($)
140	23.69
150	16.33
160	10.53
170	6.36
180	3.60

Using Excel, calculate the profit/loss (include the premiums) at expiration of each of the following:

the short call with strike K2

the long call with strike K1, and

the combined position.

Use stock prices from 120 to 200 in steps of 10. Use the following template to calculate the profit/loss for each position.

Stock price	Short call at K2	K2 premium	Long call at K1	K1 premium	Combined
120
130
140
150
160
170
180
190
200

Show in one graph the profit/loss of the three positions above.