Series 7 - General Securities Representative Exam
Training Mode
Your client is an extremely active trader. He just bought 5 JKL 140 Calls for 6.00 each. At the same time he bought 5 JKL 100 Puts for $4.00 each. The stock is trading at $121.45 currently. He has a position in the underlying of 1465 shares @ an average price of $90.60. What kind of options position did he just create?
He bought a butterfly
A
He bought a strangle
B
He bought a debit spread
C
He bought a jade lizard
D