The current share price of Firm E is S. B is the cost of a butterfly spread whose two long calls have strikes K 1 and K 2 ( K 2 > K 1 ) and maturity T. The underlying value of the butterfly spread is the stock of Firm E. Which one of the following relationships is true for any value of K 1 and K 2 ?

A - 0 < B < ( K1 + K2) / 2

B - K 1 S < B < 0

C - 0 < B < S (K1 + K2) / 2

D - B < 0

Group of answer choices

C

D

B

A