Suppose you are the chief finance officer for American Airlines and you just got word that the Federal Government is going to help rescue your company by sending you millions of $ in June of 2020. It is currently March of 2020. You want to park the cash coming in June 2020 into June GS (i.e., buy GS in June). Then, you want to hold the GS until December of 2020 and the sell them so that you can buy a few new aircraft (airplanes). Please answer the following questions:

For simplicity, we are only dealing with one futures contract rather than many:

Suppose that you wrote June futures option put with a strike price of 136 for $1,000. Suppose also that the futures price at expiration (in June) is 139. Given your hedge, you saved the company $2000 relative to going naked.

true or false