A futures contract covering 25,000 gallons of Jet Fuel will expire approximately 30 minutes from now. You note that the quoted futures price is $1.20 per gallon and the spot price of jet fuel is $1 per gallon. You realise that this is an arbitrage opportunity. Which of the following will you do? Select one: O Simultaneously short the futures contract and buy 25,000 gallons of jet fuel at the spot price. O Simultaneously long the futures contract and short sell 25,000 gallons of jet fuel at the spot price. O Simultaneously long both the futures contract and 25,000 gallons of jet fuel. M O While this is an arbitrage opportunity, you cannot profit from it unless you already have an existing position in the jet fuel futures contract