Assume that you work for a distillery that produces Scotch Whiskey. You purchase substantial quantities of barley, which is one of the major ingredients in the brewing process.

If you wish to hedge against rising barley prices, which option position is required:

Select one:

A long put option where the underlying asset is barley

A short call option where the underlying asset is barley

A long call option where the underlying asset is barley

A short put option where the underlying asset is barley