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9. Six-month call options with strike prices of $35 and $40 cost $6 and $4, respectively. What is the maximum gain when a bear spread is created from...

9. Six-month call options with strike prices of $35 and $40 cost $6 and $4, respectively. What is the maximum gain when a bear spread is created from the calls?
a. $1  
b. $2  
c. $3  
d. $4  
e. $5  
10. Six-month call options with strike prices of $35 and $40 cost $6 and $4, respectively. What is the maximum loss when a bear spread is created from the calls?
a. $1  
b. $2  
c. $3  
d. $4  
e. $5

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