A trader creates a bull spread on a stock by selling one 3-month $50-strike European call option at $2 and buying one 3-month $45-strike European call option at $4. What is the trader’s profit if he holds his position until maturity of the options and the stock price is $48 then?
A. -$3.00
B. -$1.00
C. $0
D. $1.00
E. $3.00