20. A trader has analyzed that stock N has perfectly negative correlation with S&P 500. In order to profit from this analysis, he has taken short position in S&P 500 futures and long position on stock N. Which of the following is true? A. This is riskless trade coz the stock has negative correlation B. Apart from the currency risk and cash flow risks on margin calls, this is almost a riskless strategy C. This trading strategy has the same risk as shorting the S&P 500. This is not a hedged position. D. There will be some small residual risk due to the currency conversion. Otherwise it is a virtually riskless strategy