1. March soybean futures closed at $9.97/bushel on Dec. 6th, 2017. That same day, the CME's March-2018, 950-strike call (written on soybean futures) was A. out of the money B. at the money C. in the money D. Can't tell without more information If you answer D, what additional information would you need? Why? 2. A CME trader who wants to profit from falling corn futures prices, but is only willing to accept limited downside risk in case corn prices go up, would be well advised to A. sell a call on corn futures B. buy a put on corn futures C. buy a put on the S&P 500 equity index D. A and C E. none of the above 3. Exercising a put option is also referred to as A. going long a call B. writing a put C. selling a put D. expiring a put E. striking a put F. hedging a call 4. If March 2018 soybean futures are at $10.63/bushel, which of the following four instruments has the greatest moneyness? A. a March 2018 12.20 soybean futures put B. a March 2018 9.20 soybean futures call C. a March 2018 10.10 soybean futures put D. a March 2018 10.10 soybean futures call E. can't tell without knowing the interest rate