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Consider European put options with strike prices X1, X2, and X3 and put prices p1, p2, and p3 on the same underlying stock and same

Consider European put options with strike prices X1, X2, and X3 and put prices p1, p2, and p3 on the same underlying stock and same date of expiration. Further assume that the strike price in the middle is half way between the two extreme strike prices. Show that

p2 0.5 (p1 + p3). Use a detailed table to explain your proof.

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