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1) Call options on a stock are available with strike prices of $15, $17.5 and $20 and expiration dates in three months. Their prices are

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1) Call options on a stock are available with strike prices of $15, $17.5 and $20 and expiration dates in three months. Their prices are 84. $2 and 80.5 respectively. Explain how the options can be used to create a butterfly spread. Construct a table showing how profit varies with stock price for the butterfly spread for four possible price ranges

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