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A three-step binomial tree, with terminal stock prices X1>X2>X3>X4. At time 0, if you have insider information that at the maturity the stock price will

A three-step binomial tree, with terminal stock prices X1>X2>X3>X4. At time 0, if you have insider information that at the maturity the stock price will be X3. Then, Down-down-up is not a possible sample path

A three-step binomial tree, with terminal stock prices X1>X2>X3>X4. At time 0, if you have insider information that at the maturity the stock price will be X3. Then, Up-up-down is not a possible sample path.

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