Question: You do a long butterfly spread with CALL options that have exercise prices of $75, $80, and $85. The three calls have prices of $11.43,

You do a long butterfly spread with CALL options that have exercise prices of $75, $80, and $85. The three calls have prices of $11.43, $8.95 and $6.87 and they all expire at the same time. What is the lower of the two breakeven points for this butterfly spread?

Answer 75.40

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