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A trader is speculating when he or she has... a) no exposure to offset and is betting on the future movements in the price of

A trader is speculating when he or she has...

a) no exposure to offset and is betting on the future movements in the price of the asset

b) an exposure to the price of an asset and takes a position in a derivative to offset the exposure

c) none of these

d) a position in two or more different markets to lock in a profit

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