A company Treasurer wishes to use a financial derivative that insures against an increase in the market price of wheat over the next six (6) months, but permits the company to profit from a fall in the market price.

Which of the following hedging strategies best meets the Treasurer's needs?

a.

Buy a futures contract for delivery after six months and close-out at six months.

b.

Buy a call option that matures in six months.

c.

Sell a put option that matures in six months.

d.

Buy a forward contract for delivery in six months.