Call options on a stock are available with strike prices of $15, $171 2 , and $20, and
Chapter 12, Problem 12.4(choose chapter or problem)
Call options on a stock are available with strike prices of $15, $171 2 , and $20, and expiration dates in 3 months. Their prices are $4, $2, and $1 2 , 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.
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