Which of the following is correct? More than one may apply.

1.You close out a long future position by buying a short future.

2. The owner of a long future position has the right, but not the obligation to buy a product at a set time for a set price in the future.

3.The owner of a short future position has the obligation to sell a product for a set price at a set time in the future.

4. No money changes hands between the long and short side of a future contract when the contract is signed. unanswered