An investor creates a butterfly spread by trading

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An investor creates a butterfly spread by trading 9-month call options with strike prices of $115, $125, and $135. The prices of the options are $20.50, $14.50, and $9.50, respectively.

What is the total payoff when the stock price in 9 months is $128?

(Note: Total payoff does not include initial investment)

Reference no: EM131545234

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