Question 32 Not yet answered Marked out of 1.00 P Flag question Consider it is April 2020 and a company will need to sell 100,000 barrels of oil to sell in June 2021. Each futures contract is based on 1,000 barrels. It decides to hedge with a short position with a hedge ratio of 1.0. The current spot price of oil is $19. The company decided to roll its hedge position forward at 6-month intervals. The following table shows all futures prices as well as the spot price in June 2021. Date April 2020 September 2020 February 2021 June 2021 October 2020 Futures price 18.20 18.40 March 2021 Futures price 18.00 17.50 16.80 15.30 July 2021 Futures price Spot price 19.00 16.00 The profit from only the rolling hedge strategy would be Select one: O a. -$170,000 O b. $180,000 O c. $150,000 O d. $190,000 O e. $170,000