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New York Construction Ltd (NYC) has just made a proposal to build an entertainment center for Fluor Co. of France. The construction proposal, if accepted,

New York Construction Ltd (NYC) has just made a proposal to build an entertainment center for Fluor Co. of France. The construction proposal, if accepted, will generate revenue in Euros for NYC. It won't find out for 60 days whether NYC has won the contract which is valued at 5 million Euros. The best way to protect against currency risk on its bid is for NYC to

a. buy a futures contract on Euro

b. sell a put option on Euro

c. buy Euro forward

d. buy a put option on Euro

e. all of the above

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