P Question 5 Answer the following questions dealing with forward and futures contracts and markets. a. What is the difference between a speculative strategy and hedging strategy? b. Explain the difference between day traders and position traders. c. What are some of the differences between forward and futures contracts. d. How does a hedger effectively terminate a futures contract before expiry? e. How does the clearing house eliminate almost all default risk in futures contracts? Edit View Insert Format Tools Table