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Call options on a stock are available with strike prices of S 1 5 , $ 1 7 , and $ 2 0 , and
Call options on a stock are available with strike prices of S $ and $ and expiration dates in months. Their prices are $ $ and St respectively. Explain how the options can be used to create a butterfly spread. Construct a table showing how profit varies with stock price for the butterfly spread.
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