1: When use this strategy? when you predict that the stock price will increase before the expire date 2: How to construct this spread? a: buy (long) a in-the-money (ITM) call b: sell (short) a out-of-the-money (OTM) call c: the above two calls should expire at the same date 3: Limit Gain and Limit Risk See the above (Please note that the x axis is the strike price)