New Crop Soybeans $--$ Put Option Strategy. It is May and I am

considering buying a put option to provide price insurance for the

soybean crop I just planted. November futures are $$13\mathrm{.}50$ and the

November at$-$the$-$money put option premium is $$1\mathrm{.}00.$

b$)$ What will my projected net selling price be next fall if November

futures price is trading for $$15\mathrm{.}50$ and the expected harvest basis is $50$

cents?