Giri Patel thinks that the British pound will cost $1.20/ in December. A December currency futures contract is available today at a rate of $1.30/. Should Giri take a long or short position in the futures if he were to speculate? And how much would be his profit/loss if his expectation is correct if contract size is 62,500 ? short; 6250 long; 6250 short; $6250 long: $6250