Southwest Airlines enters into a position in 2,000 crude oil futures contracts on NYMEX at a price of $65.00/bl in order to hedge its need for 2 million barrels of jet fuel in 3 months (one crude oil futures is for the delivery of 1,000 barrel). 1. Should the company long or short the futures to hedge? 2. In the first four days the closing futures price follows the path below. Suppose that the initial margin is $4,500 per contract and the maintenance margin is $3,150, complete the following table and indicate when there is a margin call. Assume the margin call on a given dav is fulfilled the next dav prior to the start of trading. Southwest Airlines enters into a position in 2,000 crude oil futures contracts on NYMEX at a price of $65.00/bl in order to hedge its need for 2 million barrels of jet fuel in 3 months (one crude oil futures is for the delivery of 1,000 barrel). 1. Should the company long or short the futures to hedge? 2. In the first four days the closing futures price follows the path below. Suppose that the initial margin is $4,500 per contract and the maintenance margin is $3,150, complete the following table and indicate when there is a margin call. Assume the margin call on a given dav is fulfilled the next dav prior to the start of trading