Question: A trader creates a long butterfly spread from options with strike prices 6 0 , 6 5 , and 7 0 by trading a total

A trader creates a long butterfly spread from options with strike prices 60,65, and 70 by trading a total of 400 options. The options are worth 11.2,14.0, and 18.4. What is the maximum net loss (after the cost of the options is taken into account)?(In your answer, write the net loss as a positive number. Notice the word "loss" implies a negative number, so a negative loss would be a gain).

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