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begin{tabular}{llllllll} hline & & Calls & & & Puts & Strike & Jul & Aug & Oct & Jul & Aug & Oct
\begin{tabular}{llllllll} \hline & & Calls & & & Puts & \\ Strike & Jul & Aug & Oct & Jul & Aug & Oct \\ \hline 160 & 6.00 & 8.10 & 11.10 & 0.75 & 2.75 & 4.50 \\ 165 & 2.70 & 5.25 & 8.10 & 2.40 & 4.75 & 6.75 \\ 170 & 0.80 & 3.25 & 6.00 & 5.75 & 7.50 & 9.00 \\ \hline \end{tabular} Suppose you are expecting the stock price to move substantially over the next three months. You are considering a butterfly spread. Construct an appropriate butterfly spread using the October 160 , 165 , and 170 calls. Hold the position until expiration. Determine the profits and graph the results. Identify the two breakeven stock prices and the maximum and minimum profits
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