6. Use the options prices for Apple, Inc. to create a butterfly spread using Apple call options with 160 and 165 and 170 strike prices. Be sure to use the appropriate bid and ask prices. What will be your cash flow per share when you set up the position? Show all cash flows: inflows, outflows, and net flow. a. Inflows: Outflows: Net Flow: b. The maximum gain on the butterfly spread is The maximum loss on the butterfly spread is The breakeven points on the butterfly spread are What will be your gain or loss per share on the net position if at expiration the price of Apple stock is $168.54? and 7. Broken wing butterfly: From question 6, replace the 160 strike price call with a 155 strike price call a. What is the net cash flow to set up the position? b. What is the maximum gain? c. What is the maximum loss? d. What are the breakeven point