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European call options with strikes 90, 100, and 110 on the same underlying asset and with the same maturity are trading for 22.50, 18.84, and

European call options with strikes 90, 100, and 110 on the same underlying asset and with the same maturity are trading for 22.50, 18.84, and 13.97, respectively. Show that the convexity of the call price as a function of the strike is violated, hence leading to an arbitrage opportunity. Describe in detail a trading strategy that makes a riskless prot.

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