Q1. One can create a butterfly spread using 3 put options. (True/ False)

Q2. Which of the following statements is correct about the early exercise of American options?

		A) It is always optimal to exercise an American call option on a non-dividend-paying stock before the expiration date.
		B) It can be optimal to exercise an American put option on a non-dividend-paying stock early.
		C) It can be optimal to exercise an American call option on a non-dividend-paying stock early.
		D) It is never optimal to exercise an American put option on a non-dividend-paying stock before the expiration date.