8.6 Bear Spread Using Calls Figure 8.4, page 189 Profi involves a positive cash flow X Options, Futures, and Other Derivatives, 4th edition@ 2000 by John C. Hull Tang Yincai, C 2003, Shanghai Normal University
Options, Futures, and Other Derivatives, 4th edition © 2000 by John C. Hull Tang Yincai, © 2003, Shanghai Normal University 8.6 Bear Spread Using Calls Figure 8.4, page 189 X1 X2 Profi t ST -- involves a positive cash flow
8.7 Bear Spread Using Puts Figure 8.5, page 190 requires an initial investment Profit e"""" Options, Futures, and Other Derivatives, 4th edition@ 2000 by John C. Hull Tang Yincai, C 2003, Shanghai Normal University
Options, Futures, and Other Derivatives, 4th edition © 2000 by John C. Hull Tang Yincai, © 2003, Shanghai Normal University 8.7 Bear Spread Using Puts Figure 8.5, page 190 X1 X2 Profit ST -- requires an initial investment
8.8 Butterfly Spread Using Calls Figure 8.6, page 191 requires a small investment initially Profit X/XX Options, Futures, and Other Derivatives, 4th edition@ 2000 by John C. Hull Tang Yincai, C 2003, Shanghai Normal University
Options, Futures, and Other Derivatives, 4th edition © 2000 by John C. Hull Tang Yincai, © 2003, Shanghai Normal University 8.8 Butterfly Spread Using Calls Figure 8.6, page 191 X1 X3 Profit X2 ST -- requires a small investment initially