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A trader creates a long butterfly spread from put options with strike prices $60, $65, and $70 by trading a total of 400 options. The

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A trader creates a long butterfly spread from put options with strike prices $60, $65, and $70 by trading a total of 400 options. The options are worth $4, $4.5, and $9. What is the maximum net gain (after the cost of the options is taken into account)? O a. 200 O b. 300 O c.400 O d. 100

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