Assume Nick Lesson, on December 15th, 1994, knowing that he was in trouble, and having perfect foresight, instead of doubling down and selling options, devised a strategy to offset his long exposure of 20,000 futures contracts...He was already down 208mm pounds and wanted to break even by the end of Q1 1995.

a.)Come up with a strategy that would have allowed him to be back to zero by end of Q1.

-Calculate the cost (or collect) of entering the strategy

-The effect on margin (if any)

-Number of contracts

-Graph the PnL of the Perfect Foresight strategy