Q10: You have decided to make some profit from a long butterfly options tradingstrategy with 400 options. The following market quotations are available for putoptions written on the same underlying asset: Put Option 1:Strike price of 60 and option premium of 11Put Option 2: strike price of 65 and option premium of 14Put Option 3: strike price of 70 and option premium of 18 What is your maximum net gain, knowing that an option covers 100 units of theunderlying asset?

Select one:

a.400

b.200

c.300

d.100