Question: A trader creates a long butterfly spread from options with strike prices $70, $75, and $80 by trading a total of 800 options. The options

A trader creates a long butterfly spread from options with strike prices $70, $75, and $80 by trading a total of 800 options. The options are worth $16, $17, and $18. What is the maximum net gain (after the cost of the options is taken into account)?

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