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Explain the differences between Options and Futures Contracts? Using one example, how Options and Futures Contracts can be used to hedge against risk? (You have

Explain the differences between Options and Futures Contracts? Using one example, how Options and Futures Contracts can be used to hedge against risk?

(You have to mention one academic reference) Illustrate your answer (300-500 words).

-Please provide new answer with reference!

Thank you!

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