18) A trader creates a long butterfly spread from options with strike prices $60, $65, and $70 by trading a total of 400 options The options are worth $11, $14, and $18. What is the maximum net gain (after the cost of the options is taken into account)? A) $100 B) $200 C) $300 D) $400 Answer: D 19) A trader creates a long butterfly spread from options with strike prices $60, $65, and $70 by trading a total of 400 options The options are worth $11, $14, and $18. What is the maximum net loss (after the cost of the options is taken into account)? A) $100 B) $200 C) $300 D) $400 Answer: A