1. Suppose you construct the following European option trades on Microsoft stock: purchase a call option with an exercise price of $29 and a premium of $14 and write a call option with an exercise price of $55 and a premium of $3. What is your maximum dollar net profit, per share?
2. Suppose you construct the following European option trades on Microsoft stock: purchase a call option with an exercise price of $27 and a premium of $8 and write a call option with an exercise price of $55 and a premium of $4. What is your maximum dollar net loss, per share?
3. Suppose you construct the following European option trades on Apple stock: write a put option with exercise price $33 and premium $1.57, and write a call option with exercise price $33 and premium $4.29. What is your maximum dollar net profit, per share?