Question: If you construct a Long Put Butterfly Spread using $37, $35 and $33 strike prices of BHP shares that costs $1.78, $1.29 and $0.90 respectively,

If you construct a Long Put Butterfly Spread using $37, $35 and $33 strike prices of BHP shares that costs $1.78, $1.29 and $0.90 respectively, what is the profit (loss) from this strategy if BHP's share price at expiry of the options is $36? One option contract is for 1000 shares.

Group of answer choices

Profit of $1900

Loss of $1900

Profit of $900

Loss of $900

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