Question: A trader enters into a butterfly spread using the following calls. Mar 4 $105 C - Price: $12.20 Mar 4 $110 C - Price: $9.30

A trader enters into a butterfly spread using the following calls. Mar 4 $105 C - Price: $12.20 Mar 4 $110 C - Price: $9.30 Mar 4 $115 C - Price $7.00 What is the profit (or loss) of the trade if the shares are trading for $111 at expiration? (Enter the total trade value, not the per share value)

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