Donna Donie, an option analysts at UMB Students Managed Fund, was assigned to calculate gain or loss from the following Butterfly option strategy.

Option Pricing Data $($U$.$S$.$$$)$

Stock Price $$141\mathrm{.}21$

Characteristic

Price

Strike Price $1,2$ and $3$

Time to

Expiration

Call Option $1$

$$21\mathrm{.}00$

$$135\mathrm{.}27$

$60$ days

Call Option $2$

$$18\mathrm{.}50$

$$140\mathrm{.}27$

$60$ days from now

Call

Option $3$

$$16\mathrm{.}35$

$$145\mathrm{.}27$

$60$ days

from now

At expiration for the appropriate Butterfly strategy Calculate

i$.$ Maximum possible loss per share ii$.$ Maximum possible gain per share iii. Breakeven stock price$($s$)$

A$.$ i$.$ Maximum possible loss per share $$465$

Breakeven stock price$($s$)$

ii$.$ Maximum possible gain per share $$35$

iii. Breakeven stock price$($s$)$ $$144\mathrm{.}92$ and $$135\mathrm{.}62$

B$.$ i$.$ Maximum possible loss per share $$465$

ii$.$ Maximum possible gain per share unlimited

iii. Breakeven stock price$($s$)$ $$141\mathrm{.}92$ and $$96$

c$.$ i$.$ Maximum possible loss per share $$465\mathrm{.}50$

ii$.$ Maximum possible gain per share limited to $35$

iii. Breakeven stock price$($s$)$ $$129\mathrm{.}65$ and $$120\mathrm{.}35$