Exercise 15.3.5 Consider a call on the minimum of two assets with strike price X.

Its terminal value is max(min(S1(T), S2(T))− X, 0). Show that this option can be replicated by a long position in two ordinary calls and a short position in one call on the maximum of two assets at the same strike price X, which has a terminal payoff of max(max(S1(T), S2(T))− X, 0).