Dinkins, Inc. exported goods to Switzerland and will receive CHF 2 million in 90 days. Dinkins believes in IFE and IRP between the US Dollar and Swiss Franc. The 3 month forward rate of the Swiss Franc is USD 1.01/CHF. A 90-day put option is available with an exercise price of USD 1.03/CHF and a premium of USD .02/CHF.

Based upon the information above, which of the following would produce the most favorable outcome for Dinkins?

a) Purchase a Put Option

b) Sell Forward

c) Remain Unhedged

d) All of the actions will produce the same outcome

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