Strike 
Price
Dollar 
Spread
Percent of 
Maximum 
Spread (a)
Bid 
Price
Ask 
Price
Covering at Strike
Covering at Maximum 
Strike
Difference
Risk 
Comparison 
(%) (b)
Return 
Comparison  
(%) (c)
Potential 
Gain
Worst-Case 
(Loss)
Potential 
Gain
Worst-Case 
Gain (Loss)
195 — — 7.05 7.10 — — — — — — —
200 5 11 4.55 4.65 2.40 (2.60) 6.96 1.96 (3.55) N.C. 34
205 10 22 2.75 2.79 4.26 (5.74) 6.96 (3.04) 2.29 189 61
210 15 33 1.54 1.58 5.47 (9.53) 6.96 (8.04) 0.87 119 79
215 20 44 0.84 0.88 6.17 (13.83) 6.96 (13.04) 0.53 106 89
220 25 56 0.38 0.54 6.51 (18.49) 6.96 (18.04) 0.39 102 94
225 30 67 0.12 0.35 6.70 (23.30) 6.96 (23.04) 0.30 101 96
230 35 78 0.11 0.14 6.91 (28.09) 6.96 (28.04) 0.25 100 99
235 40 89 0.03 0.15 6.90 (33.10) 6.96 (33.04) 0.21 100 99
240 45 100 0.02 0.09 6.96 (38.04) 6.96 (38.04) 0.18 100 100
227