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A quote sheet with a hole in it · Part 3 of 3
A market maker quotes European calls on a stock at $100, all with the same expiry: the 90-strike at $14.00, the 100-strike at $8.00 and the 110-strike at $1.50. Interest rates are zero and you can trade at these prices.
Holding the 90 and 110 quotes fixed, what is the highest price the 100-strike call could be quoted at without a butterfly arbitrage?
Answer with a number. Fractions, powers and expressions like 23/6 or C(52,5) are read correctly in practice.
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