Question: Three put options on a stock have the same expiration date and striko prices of $66, S60, and 865. The market prices aro 83, 85,

Three put options on a stock have the same expiration date and striko prices of $66, S60, and 865. The market prices aro 83, 85, and $8, respectively. Explain how a butterfly spread can be created. Construct a table showing the profit from the strategy. For what range of stock prices would the butterfly spread lead to a loss? Explain your reasoning and your calculations in detail. Arial T TT TT Paragraph. % DOO O fx Mashup 3 (121) T' T, WTH US

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