\documentclass{article}
\usepackage{amsmath}
\begin{document}
\[
-\dfrac{1}{2}\bigl[
\dfrac{1}{3!}
\begin{picture}(12,10)(0,2)
\put(6,5){\circle{12}}\put(0,5){\line(1,0){12}}
\end{picture}
+\dfrac{1}{4}
\begin{picture}(32,10)(0,2)
\put(6,5){\circle{12}}
\put(12,5){\line(1,0){8}}
\put(26,5){\circle{12}}
\end{picture}
\bigr]
+\dfrac{1}{8}
\begin{picture}(24,10)(0,2)
\put(6,5){\circle{12}}
\put(18,5){\circle{12}}
\end{picture}
-\dfrac{1}{2}
\begin{picture}(12.5,10)(0,2)
\put(3,5){\circle*{3}}
\put(3,5){\line(1,0){8}}