Question: d. Consider the butterfly spread using call options. Let C,cs be the prices of the two long call options with exercise prices E Es respectively

d. Consider the butterfly spread using call options. Let C,cs be the prices of the two long call options with exercise prices E Es respectively and let cybe the price of the short call option with exercise price Ey. Note: For the butterfly spread using call options we buy two call options with exercise prices E, E, and we short two call options with exercise price Eg. In addition Es > Ey > Ey and Es - E, = E, - E. Show that sc +c)

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