Question: Section 3: Short Answers (answer two questions only) 7. Explain forward contracts, future contracts, and options (types and positions of options)? Make sure to explain

 Section 3: Short Answers (answer two questions only) 7. Explain forward

Section 3: Short Answers (answer two questions only) 7. Explain forward contracts, future contracts, and options (types and positions of options)? Make sure to explain the main difference between options, and forward and future contracts. 8. Under what conditions do you use bull spread strategy, bear spreads strategy, or straddle strategy? 9. Explain the difference between box spread, butterfly spread using calls or puts, and calendar spread using calls or puts

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