7. Call options on a stock are available with strike prices K1 = $15, K2 = $17.5 and K3 = $20 and are selling for C1 = $4, C2 = $2 and C3 = $.50. The expiration is 3 months so that T = 3/12. How can these options be used to create a butterfly spread? Show the variation in profits for for all possible values of the stock price at maturity, St.In appropriate tables show the payoffs and profits for all possible values of the stock price at maturity, T. Expected payoffs ST 1st long call 2nd long call short calls total ST 20 Expected profits Expected Payoff Expected profit ST ST 20