Question: 19. An options strategy called a butterfly spread is composed of the following: i. Purchase long call with strike price of $25 for $15

19. An options strategy called a "butterfly spread" is composed of the

19. An options strategy called a "butterfly spread" is composed of the following: i. Purchase long call with strike price of $25 for $15 ii. Short two calls with strike price of $35 for $13 each Long call with strike price of $45 for $12 iii. What is the profit if the stock price ends up at $34? a. $9.00 b. $8.00 c. $1.00 d. -$18.00

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