Suppose that c1, c2, and c3 are the prices of European call options with strike prices K1, K2, and K3, respectively, where K3 > K2 > K1 and K3 - K2 = K2 - K1. All options have the same maturity. Consider a portfolio that is long one option with strike price K1, long one option with strike price K3, and short two options with strike price K2. Which of the following is a correct description of this portfolio? 1. There is no correct answer. 2. If a portfolio is constructed at the current time, positive income occurs. 3. The greater the volatility of the underlying asset price, the higher the payoff. 4. It is also possible to create the same payoff by combining put options. 5. The payoff at maturity is either 0 or negative.