A U.S. company estimated that, in the first two months of 2026, its export sales to a Swiss company would generate 368,000 francs. On December 1, 2025, in an effort to protect against the weakening franc, the company purchased an option (out of the money) to sell 368,000 Swiss francs at an exchange rate of $0.60 with an expiration date of February 25, 2026. The cost of the option was $6,100