What is the profit of this strategy

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Suppose you purchase one Texas Instruments call contract with a strike price of $75 that is quoted at $8.50 and write one Texas Instruments call contract with a strike price of $80 that is quoted at $6. At expiration, the price of a share of Texas Instruments stock is $79.

1) What is the payoff of this strategy?

2) What is the profit of this strategy?

Reference no: EM131897435

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