Which of the following statement(s) is/are true? 1. Similar to a forward contract, you can enter an option contract without any up-front cost. II. If you want to hedge oil price 6 months later, then you should use the forward market rather than the spot market. III. If you want to hedge but worry about the counter party risk, then you should use the forward market rather than the future market. a) I only d) II and III only b) II only e) None of the above answers c) III only