BKS Barnes & Noble Call Spread Buy 10 April 11 $14 for $1.45 Sell 10 April 11 $16 for $.50 Net outlay is $.95 Max profit $1.05 ($1050) Max loss $.95 ($950) Break Even... $14.95 Barnes and Noble was just approached by Borders to be purchased for $16 per share. Giving until April for it to go through. Disclaimer: I do not shares of BKS, however will likely be purchasing this call spread.