IV.1.1. HEDGING WITH FUTURES. In to the price on the futures market is X. You are ALFA on FUTURES. Provide a hedging example (including the result) when the futures prices increase more than the spot prices and the market is #in backwardation. (2 p) DATE SPOT/CASH MARKET FUTURES MARKET BASIS RESULTS IV.1.1. HEDGING WITH FUTURES. In to the price on the futures market is X. You are ALFA on FUTURES. Provide a hedging example (including the result) when the futures prices increase more than the spot prices and the market is #in backwardation. (2 p) DATE SPOT/CASH MARKET FUTURES MARKET BASIS RESULTS