am the manager of a soccer team. I have a match scheduled for the 15th of July 2022. Due to the COVID-19 crisis, I am unsure whether the match will go ahead. If the match goes ahead, I will receive 1,000,000 EUR in sponsorship fees. I will receive the money as soon as the match concludes. I wish to convert all EUR to AUD immediately upon payment. I have access to the following instruments.

1) An American put option on the EUR. Exercise price: E_$/=1.25. Expiry: 15th of July 2022. Contract size = 50,000 EUR. Premium: $0.07/ 2) An American call option on the EUR. Exercise price: E_$/=1.25. Expiry: 15th of July 2022. Contract size = 50,000 EUR. Premium: $0.07/ 3) A European put option on the EUR. Exercise price: E_$/=1.25. Expiry: 15th of July 2022. Contract size = 50,000 EUR. Premium: $0.04/ 4) A European call option on the EUR. Exercise price: E_$/=1.25. Expiry: 15th of July 2022. Contract size = 50,000 EUR. Premium: $0.04/ What should I do? Note: E^T denotes the spot exchange rate E_$/ on 15th of July 2022.

	A.	Sell 20 American call options on the EUR now. Exercise the option on the 15th of July if ET>1.25
	B.	Buy 20 European put options on the EUR now. Exercise the option on the 15th of July if ET<1.25
	C.	Sell 20 American put options on the EUR now. Exercise the option on the 15th of July if ET<1.25
	D.	Buy 20 European call options on the EUR now. Exercise the option on the 15th of July if ET>1.25
	E.	Buy 20 American call options on the EUR now. Exercise the option on the 15th of July if ET>1.25