Question: Three put options written on the same stock and with the same maturity have strike prices of $55, $60, and $65. Their market prices are

Three put options written on the same stock and with the

Three put options written on the same stock and with the same maturity have strike prices of $55, $60, and $65. Their market prices are $3, $5, and $8, respectively. What is the profit/loss of a butterfly spread constructed using these three options if the stock price at maturity is $59.5? a. 5.50 b. 4.50 c. 3.50 d.-1 e. 4.50

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