Imagine that you expect interest rates to increase and purchase a put option onTreasury bond $($T$-$bond$)$ futures. Assume the exercise price on T$-$bond futures is $$97,000,$and the premium paid for the put option is $$3,000.$ Assume that interest rates do increase,and as a result, the price of the T$-$bond futures contract declines over time and is valued at$$89,000$ shortly before the option's expiration date. Al this time, you decide to exercisethe option and close out the position.