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A trader creates a long butterfly spread from options with strike prices $60, $65, and $70 by trading a total of 4 options. The options
A trader creates a long butterfly spread from options with strike prices $60, $65, and $70 by trading a total of 4 options. The options are cost $11, $14, and $18. What is the maximum profit on the position (remember to subtract the cost of the option portfolio)?
$4
$1
$2
$3
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