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8) When is it appropriate for an investor to purchase a butterfly spread? 9) What is the difference between a strangle and a straddle? 10)

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8) When is it appropriate for an investor to purchase a butterfly spread? 9) What is the difference between a strangle and a straddle? 10) A call option with a strike price of $50 costs $2. A put option with a strike price of $45 costs $3. Explain how a strangle can be created from these two options. What is the pattern of profits

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