4 Most agricultural options are illiquid Question 5 In May, December futures were trading at $5.50/bushel and Josh bought a Dec $5.50 put for 45 cents for downside protection. By the time he harvested his corn, prices had risen to $7.00/bushel and the basis when he delivered his corn was 10 under. What did he net for his corn 1 $6.90 2) $6.45 3) $6.55 4) $5.95 Question6