Question $47$: Uou buy soybeans for your feed processing plant. It is April and you want to put a price strategy in place for October. November soybean futures are trading for $$12\mathrm{.}63$ per bushel and your local historical basis in October is $+15$ cents. You buy a November soybean Call option with a strike price of $$12\mathrm{.}80$ for $$0\mathrm{.}71$ per bushel. In April, what is the expected price ceiling for your October soybeans purchase from this transaction? Give your answer in a positive decimal format, $00\mathrm{.}00$

Question $48$: You buy soybeans for your feed processing plant. It is April and you want to put a price strategy in place for October. November soybean futures are trading for $$12\mathrm{.}63$ per bushel and your local historical basis in October is $+15$ cents. You buy a November soybean Call option with a strike price of $$12\mathrm{.}80$ for $$0\mathrm{.}71$ per bushel. Time passes and in October the November soybean futures price is $$10\mathrm{.}43$ per bushel and the local basis is $-5$ cents per bushel. What is your effective buying price in October? Give your answer in a positive decimal format, $00\mathrm{.}00$

Question $49$: In the previous problem, did you exercise your Call option?

Yes or No$?$

Question $50$: You buy soybeans for your feed processing plant. It is April and you want to put a price strategy in place for October. November soybean futures are trading for $$12\mathrm{.}63$ per bushel and your local historical basis in October is $+15$ cents. You buy a November soybean Call option with a strike price of $$12\mathrm{.}80$ for $$0\mathrm{.}71$ per bushel. Time passes and in October the November soybean futures price is $$14\mathrm{.}80$ per bushel and the local basis is $+10$ cents per bushel. What is your effective buying price in October? Give your answer in a positive decimal format, $00\mathrm{.}00$

Question $51$: In the previous problem, did you exercise your Call option?

Yes or No

Question $52$: You buy soybeans for your feed processing plant. It is April and you want to put a price strategy in place for October. November soybean futures are trading for $$12\mathrm{.}63$ per bushel and your local historical basis in October is $+15$ cents. You sell a November soybean Put option with a strike price of $$12\mathrm{.}40$ for $$0\mathrm{.}61$ per bushel. Time passes and in October the November soybean futures price is $$14\mathrm{.}80$ per bushel and the local basis is $+10$ cents per bushel. What is your effective buying price in October? Give your answer in a positive decimal format, $00\mathrm{.}00$

Question $53$: In the previous problem, was the Put option exercised?

Yes or No