Question $12$

$4$ pts

Three put options on a stock have the same expiration date and strike prices of $$52,$$$58,$ and $$64,$ The market prices are $$5,$$$6,$ and $$9,$ respectively. For what range of stock prices would the butterily spread lead to a loss?

When price is below $$52$ or above $$64$

When prike it tetween $55?$ and $564$

When price is below $$54$ or above $$62$

When price is between $554$ and $56?$