In order to hedge without using futures, should you buy a PUT option on CHF or a call option on CHF, and how many PUT or CALL contracts will you need to fully hedge?

You are expected to receive 5,000,000 Swiss Franc (CHF) from the importer 90 days later. You want to hedge against possible devaluation of CHF in the coming 90 days. The following table shows you about derivates (futures and options) available to you Futures Call Option CHF 125,000.00 CHF 62,500.00 CHE 62,500.00 Put Option Contract Size Spot Rate (S/SE) today 0.95 Future Rate (S/SF today0.90 Strike Price (S/SE) Premium S per SF 0.95 $0.004 0.95 $0.005