Question 1 (3.33 points) Which of the following is true? The buyer of a currency put option is obligate to sell the underlying currency to the seller of the put option at the specified strike price/exercise price on the expiration date if the option can only be exercised on the expiration date. If you expect the Australian dollars to depreciate, it would be appropriate to buy futures contracts on Australian dollars for speculative purposes. The writer (seller) of a currency call option is obligated to buy the underlying currency from the buyer of the call option at the specified strike price/exercise price if the call option is exercised by the buyer. A firm which buys a currency futures contract decides before the settlement date that it no longer wants to maintain its position, it should close out the position by selling an identical futures contract