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A trader engages in a specific options strategy involving the stock of XYZ Limited. In this strategy, the trader sells a January 2023 call option with a strike price of USD 50 for a premium of USD 10 and simultaneously buys a January 2023 call option with a strike price of USD 60 for a premium of USD 2. What is the name of this particular trading strategy, and what are the possible maximum gains and losses the trader could encounter at expiration?
A
Bear spread, with maximum profit of USD 8, and maximum loss of USD 2
B
Bear spread, with unlimited maximum profit, and maximum loss of UsD 2
C
Bull spread, with maximum profit of USD 8, and maximum loss of USD 2
D
Bull spread, with maximum profit of USD 8, and unlimited maximum loss