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Vertical bull CALL spread

A compound option strategy of buying two options with a common expiration date; one option is a long CALL with a lower strike price and the other is a short CALL with a higher strike price. The buyer's maximum profit consists of the dollar differencebetween the two strike prices, minus the total premium paid. The break-even point is calculated as the sum of the lower strike price and the total premium. The maximum loss is limited to the premium paid for the two options.

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