What does look like the best strategy if we assume the volume of students is

$10000$ and all three possible exchange rates? what proportions should AIFS use forward contracts and options? from these: $100\%$forward and $0\%$options; $25\%$forward and $75\%$options; $50\%$forward and $50\%$options; $75\%$forward and $25\%$options; $100\%$ forward and $0\%$options or lastly no hedghing?