A trader creates a long butterfly spread from options with strike prices $60, $65, and $70 by trading a total of four 100-share options. The options are worth $11, $14, and $18, respectively. Which of the following is accurate about this position?

	a.	It involves buying a put with a strike price of $60 and also buying another put with a strike price of $70.
	b.	The maximum loss on this position is $200.
	c.	The maximum gain on this position by the expiration date is $300.
	d.	It involves selling two call options with a strike price of $65.
	e.	If at expiration the stock price was $68, the profit would be $200.