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The settle or closing price for the November 2022 Feeder Cattle futures contract on 8/19 was: 145.275 dollars per hundredweight ($145.275/cwt) a) Fill out

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The settle or closing price for the November 2022 Feeder Cattle futures contract on 8/19 was: 145.275 dollars per hundredweight ($145.275/cwt) a) Fill out the following table for a Feeder Cattle Put using the information provided for the November 2022 Feeder Cattle Put. Strike prices and premiums are reported in dollars per hundredweight. Strike Price Premium Intrinsic Value Time Value In, At, or Out 142.00 1.350 143.00 1.800 144.00 2.100 145.00 2.475 b) How many options contracts would you need to purchase to appropriately cover 200 head of feeder steers with an expected sale weight of 800lb per head? c) Pick the strike price in the 3rd row of the table. If you purchased Feeder Cattle puts to appropriately cover 200 head with an expected sale weight of 800lb per head (as determined in part b), what would the total premium cost be? (show the work for your calculation)

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