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Solve for these two questions... Question 1 2 . 2 3 : A trader sells a strangle by selling a 7 - month European call

Solve for these two questions...
Question 12.23 :
A trader sells a strangle by selling a 7-month European call option with a strike price of $60 for $4 and selling a 7-month European put option with a strike price of $50 for $5. For what range of prices of the underlying asset in 7 months does the trader make a profit?
Question 12.24 :
Three put options on a stock have the same expiration date and strike prices of $60, $65, and $70. The market prices are $5, $8, and $10, respectively. Explain how a butterfly spread can be created. Construct a table showing the profit from the strategy. For what range of stock prices would the butterfly spread lead to a loss?

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