8.4 Bull Spread Using Calls (Figure 8.2, page 187) requires an initial investment Profit Options, Futures, and Other Derivatives, 4th edition@ 2000 by John C. Hull Tang Yincai, C 2003, Shanghai Normal UniversityOptions, Futures, and Other Derivatives, 4th edition © 2000 by John C. Hull Tang Yincai, © 2003, Shanghai Normal University 8.4 Bull Spread Using Calls (Figure 8.2, page 187) X1 X2 Profit ST -- requires an initial investment