Which of the following are hedging strategies on a commodity for a company which uses the commodity as an input for their production (i.e. they are a buyer of the commodity)? For each of the strategies below, indicate with either a Yes if it is a hedging strategy for the buyer or a No if it is not a hedging strategy for the buyer. Also, provide an brief explanation for why youve selected either a Yes or a No for each strategy.

i. Selling a call on the commodity

ii. Buying a collar position on the commodity

iii. Buying a call on the commodity

iv. Selling a forward on the commodity

v. A short futures on the commodity