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Question #6 (10 points) A trader creates a long butterfly spread from options with strike prices $60, $65, and $70 by trading a total of

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Question #6 (10 points) A trader creates a long butterfly spread from options with strike prices $60, $65, and $70 by trading a total of 400 options. The options are worth $10, $13, and $17. What is the maximum net loss (after the cost of the options is taken into account)

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