Company X has payables of 3,234.569 Yen in 3 months. The spot JPYUSD is 0.0086. Forecast indicates that the Yen could either end up with a value of $0.0081 (34% chance), a value of $0.0084 (28% chance) or a value of $0.0093 (38% chance). The US interest rates are: deposit 3.23% and borrowing 3.45% and the Yen rates are: deposit 4.68% and borrowing 4.76%. 3-month forwards on the Yen are priced for $0.0086. Put options with 3 months expiration and strike price of $ 0.0089 are available for a premium of USD $0.000026 and call options with 3 months expiration and strike price of $ 0.0084 are available for a premium of USD $0.000025.

Company X has payables of 3,234,569 Yen in 3 months. The spot JPYUSD is 0.0086 . Forecast indicates that the Yen could either end up with a value of $0.0081 (34\% chance), a value of $0.0084 (28\% chance) or a value of $0.0093 (38\% chance). The US interest rates are: deposit 3.23% and borrowing 3.45% and the Yen rates are: deposit 4.68% and borrowing 4.76%.3-month forwards on the Yen are priced for $0.0086. Put options with 3 months expiration and strike price of $0.0089 are available for a premium of USD $0.000026 and call options with 3 months expiration and strike price of $0.0084 are available for a premium of USD $0.000025