Determine whether each of the following statements about butterfly spread is true or false.

(A) A long butterfly spread is a bet on the volatility of the underlying asset being higher than that perceived by the market.

(B) Combining a long K₁-K₂ bear spread combined with a long K₂-K₃ bull spread produces a short K₁-K₂-K₃ butterfly spread.

(C) A long butterfly spread created using call options has the same cost as an otherwise identical long butterfly spread created using put options.

(D) The maximum profit of a butterfly spread can be made arbitrarily large by appropriately scaling up the number of options to buy and sell.