You buy a call with a strike price of $70 on stock that you have shorted at

Question:

You buy a call with a of $70 on stock that you have shorted at $70 (this is a "protective call"). What are the expiration date profits to this position for stock prices of $60, $65, $70, $75, and $80 if the call premium is $4.90?

Strike Price
In finance, the strike price of an option is the fixed price at which the owner of the option can buy, or sell, the underlying security or commodity.