Question: A stock price is currently $ 2 3 . A reverse ( i . e . short ) butterfly spread is created from put options

A stock price is currently $23. A reverse (i.e. short) butterfly spread is created
from put options with strike prices of $20, $25, and $30. The costs of the puts
are $1 for $20 put, $3 for $25 put, and $5.5 for $30 put. Use graphs to illustrate
the profit pattern of this spread. What are the maximum gains and maximum
losses from the spread?

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