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Consider two long put options with strikes E1 and E2 that satisfy E1 E2 and same expiry date T Formulate the conditions on their premiums

Consider two long put options with strikes E1 and E2 that satisfy E1 E2 and same expiry date T Formulate the conditions on their premiums P1 and P2 so that the PNL graphs of the two puts intersect Justify your answer by drawing all possible arrangement types of the graphs Hint there are three arrangements (plus two borderline cases)

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