Question: A butterfly spread is a position in three options on the same underlying stock with different strikes. An investor buys one call with a strike

A butterfly spread is a position in three options on the

A butterfly spread is a position in three options on the same underlying stock with different strikes. An investor buys one call with a strike K1=92, sells two calls with a strike K2=94 and buys one call with a strike K3=96. What is the payoff of the butterfly spread, if the stock price equals $94 at maturity? $2 $0 $1 $1

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