Question: A trader creates a long butterfly spread from call options with strike prices $70, $76, and $82 by trading a total of 120 options. The

A trader creates a long butterfly spread from call options with strike prices $70, $76, and $82 by trading a total of 120 options. The options are worth $10.73, $13.79, and $19.93, respectively. What is the maximum net loss (after the cost of the options is taken into account)? Note that each option is linked to 100 shares of the underlying stock. Note: In your answer, please put down the numeric value. For example, if your answer is $1,000,399.5196, please put in 1000400. (0 Decimal places)

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