Question: Strap: Buy two calls with X = $50 at a price of $5 each. Buy 1 put with X=$50 at a price of $4.50. If

Strap: Buy two calls with X = $50 at a price of $5 each. Buy 1 put with X=$50 at a price of $4.50. If S = $60, the payoff is

A.

$5.50

B.

$20

C.

$14.50

D.

$6.00

E.

$11

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