Suppose you have a long call spread on Micron Technology. The stock currently trades for $48.03...

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Suppose you have a long call spread on Micron Technology. The stock currently trades for $48.03...

Suppose you have a long call spread on Micron Technology. The stock currently trades for $48.03 per share. You buy a Micron call with a strike price of $47.00 for a premium of $1.55 and you sell a Micron call with the same expiration and a strike price of $50 and a premium of 26 cents.

What is your total profit or loss at a stock price of $299.00?

	A.	Gain of $224,000
	B.	Gain of $171.00
	C.	Gain of $119.00
	D.	Loss of $129.00

business finance

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