When there are significant declines expected in prices of the underlying, what is the best multiple option strategy to hedge falling prices? Put bear spread Put butterfly spread Protective Put Collar - Long Put, Short Call A company due to pay a certain amount of a foreign currency in the future decides to hedge with futures contracts. Which of the following best describes the advantage of hedging? It leads to a better exchange rate being paid It leads to a more predictable exchange rate being paid It caps the exchange rate that will be paid It provides a floor for the exchange rate that will be paid