Question: A trader creates a long butterfly spread from options with strike prices X , Y , and Z , where X < Y < Z

A trader creates a long butterfly spread from options with strike prices X, Y, and Z, where X < Y < Z, and Y is exactly midway between X and Z. A total of 400 options are traded. The difference between X and Y is $11. The difference in the prices of the options with strike prices of Z and Y is $5.07. The difference in the prices of the options with strike prices of Y and X is $6.96. What is the maximum net gain (after the cost of the options is taken into account)? Please give your answer to the nearest dollar.
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