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Call options on a stock are available with strike prices of $12, $15, and $18 and expiration date in three months. Their prices are $4,

Call options on a stock are available with strike prices of $12, $15, and $18 and expiration date in three months. Their prices are $4, $2 and $1, respectively. Explain how the options can be used to create a butterfly spread. Construct a table showing how profit caries with stock price for the butterfly spread. Draw the resulting graph.

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