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Call options on a stock are available with strike prices of $ 1 5 , $ 1 7 . 5 and $ 2 0 before

Call options on a stock are available with strike prices of $15, $17.5 and $20 before expiration date. The call premiums for each are $4, $2 and $0.5 respectively. Explain how the options can be used to create a butterfly spread. A. Construct a table showing how profit varies with stock price for the butterfly spread. B.Plot the profit with stock price for the butterfly spread. List the profit formula for each trend.

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