Question: Compare not hedging, hedging with a forward vs hedging with an option, just a few sentences please. For example it should read like: Not hedging

Compare not hedging, hedging with a forward vs hedging with an option, just a few sentences please. For example it should read like: Not hedging allows for what kind of risk? If I hedge with a forward my variability of profit and loss is... with the option instead of the forward I have.... loss and profit.

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