An E&P company that wants to hedge its output would typically buy a _________ and can finance all or part of the premium on that derivative by selling a ______________.

	A.	future; call
	B.	call; future
	C.	put; call
	D.	call; put

A collar strategy using two options for an airline would typically consist of ____________ and _______________.

	A.	buying a call; selling a put
	B.	selling a call; buying a put
	C.	buying a future; selling a put
	D.	selling a future; buying a call