Tony wants to sell short 10 shares of ABCD from a broker. List the steps he needs to take. The current price of the stock is $25 (in April) and he expects it to go down to $20 in June.

Assume he is only trading during April- June.

A Borrow the 10 shares of ABCD stock from the broker for $25

B Immediately sell the 10 shares of ABCD stock

C Wait till June so the ABCD stock drops to $20

D Tell the broker to buy the 10 shares of ABCD stock for $20, which will be your return to the broker for previously borrowing the stock