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Three call options on a stock have the same expiration date and strike prices of...

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Three call options on a stock have the same expiration date and strike prices of 55,60,65. The market prices are $8,$5, and $3, respectively. a. Explain how a butterfly spread can be created. b. Construct a table showing the profit per share from the strategy for the following stock prices. c. For what range of stock prices would the butterfly spread lead to a profit? d. Graph the profit diagram to this strategy. Please label the three strike prices on the horizontal axis; label max gain and max loss on the vertical axis

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