Call options on a stock are available with strike prices of ($ 15, $ 17 frac{1}{2}), and

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Call options on a stock are available with strike prices of \(\$ 15, \$ 17 \frac{1}{2}\), and \(\$ 20\), and expiration dates in 3 months. Their prices are \(\$ 4, \$ 2\), and \(\$ \frac{1}{2}\), 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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