Suppose that you sell for 12 dollars a call option with a strike price of 47 dollars, sell for 8 dollars a call option with a strike price of 57 dollars, and buy for 9 dollars each two call options with a strike price of 52 dollars.
a) What is the minimum profit possible on the exercise date? Answer = dollars.
b) What is the maximum stock price at the exercise date that will result in you breaking even?
Answer = dollars.