Each year, my wife and I host a rather large Boxing Day party. One of the implications of this is that I need to buy 5 boxes of oranges on December 24. Being a penny pincher, I always want to figure out the cheapest way to buy oranges. The issue is that I am exposed to price risk; namely the price of oranges could change between now and December 24. Assume that oranges are currently trading at $50 per box. Also assume that I can choose to either enter into a forward contract to buy 5 boxes of oranges with a forward price of $250 ($50 per box), or that I could enter into a call option contract to also buy 5 boxes of oranges for $250. Of course, I can also decide to do nothing, and just buy the 5 boxes of oranges at the spot price of oranges on December 24. Prepare a memo that makes a recommendation as to what I should do. You will likely want to include a payoff diagram as part of your analysis.