Study the Costless Collar Graph above and answer the following questions:\ Describe the "Put" portion of the Hedge? Would you want to use this as a buyer or seller?\ Describe the "Call" portion of the Hedge? Would you want to use this as a buyer or seller?\ Why is there no "Premium" in this transaction?\ If the NYMEX was at $9 what would the price be\ If the NYMEX was at $11 what would the price be\ If the NYMEX was at $2 what would the price be

\begin{tabular}{|lll|} \hline If, Nymex $5.00 \\ If, $5.00$8.00 & Producer's Price & $8.00 \\ \hline \end{tabular}