I need this one question answered:

Question 2

Suppose you want to create a Condor Spread option strategy based on GE call options. The butterfly spread will involve the following:

Buying a call option with strike price $23

• Selling a call option with strike price $24
• Selling a call option with strike price $25
• Buying a call option with strike price $26 You want all of these options to have the same maturity of approximately 3 months.

1. a) Go to Yahoo! Finance and search for General Electric (symbol: GE), then click on Options on the left side of the screen, then select December 18, 2015 in the dropdown box below the stock price to obtain a list of GE options with approximately three months to expiration. The Ask price is the price at which you can buy an option while the Bid price is the price at which you can sell an option. Report the bid and ask prices for each of the four call options described above. Also report the date, time, and stock price when you retrieved these options prices.
2. b) Like in class, provide the payoff function for each range of strike prices in which the stock price in could land in 3 months. (The stock price can land in five ranges: ST< 23, 23 < ST< 24, 24 < ST<25,2526.)
3. c) Graph the payoff of the option strategy as a function of ST.
4. d) How much will this condor spread cost? Remember to use the bid price when you sell a call option, and the ask price when you buy a call option. You receive money when you sell an option and pay money when you buy an option.
5. e) What kind of price movements are we betting on with this strategy? (no calculations needed for this question)
6. f) Suppose you buy a GE call option that has a strike price equal to $23 and expiration on December 18, 2015. Because the strike price is less than the current stock price, this option is considered in-the-money. Report the strike price of this call option, the ask price, and the current price of GE stock. Suppose you immediately exercise this call option. What is your payoff? Why do you think the payoff is less than the (ask) price at which you bought this option?