Company A has hedged, in order to manage the risk of a floating interest rate, by buying six-month Eurodollar futures. The price of the futures, when entering the contract the price was 97.9. When closing the contract, six months later, the interest rate has fallen. Which statement is true?

Question 31 options:

	The company took a short position and made a loss
	The company took a long position and made a loss
	The company took a short position and made a profit
	The company took a long position and made a profit