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You will create a portfolio of financial options. Go to Yahoo! Finance and search for the gold exchange traded fund (symbol: GLD). Then, click on

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You will create a portfolio of financial options. Go to Yahoo! Finance and search for the gold exchange traded fund (symbol: GLD). Then, click on the "Options" tab, then select "January 20, 2023" from the dropdown box below the stock price to obtain a list of GLD options with January 20, 2023 maturity. Suppose you want to create a "Butterfly Spread" option strategy based on GLD call options. The butterfly spread will involve the following: . Buying a call option with strike price $170 Selling two call options with strike price $180 Buying a call option with strike price $190 a) The "Ask" price is the price at which you can buy an option while the "Bid" is the price at which you can sell an option. Report the bid and ask price for each of the four call options described above. Also report the date, time, and quoted price for GLD when you retrieved these option prices. You should collect these data during regular trading hours (9:30 AM to 4:00 PM EST weekdays), as bid and ask prices are sometimes not available during off-market hours. b) Provide the payoff functions for each range of strike prices in which the spot price could land at expiration. There are four ranges in which the spot price could land at expiration: St

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