The current spot rate, 90-day forward rate, and your expectations for spot rates in 90 days for Euros (?) are shown in the following table:

Current Spot Rate	90-day Forward Rate	Expected Spot Rate in 90 days
$1.00 = ?0.8297 ?1.00 = $1.2053	$1.00 = ?0.8163 ?1.00 = $1.2250	$1.00 = ?0.7843 to ?0.8351 ?1.00 = $1.1975 to $1.2750

You have ordered a shipment of premier French cheese for your gourmet pizzaria in the amount of 10,000 Euros. At the current spot rate of $1.2053 /Euro, the shipment will cost you $12,053.00. However, as with most imports, you will not pay for the cheese until delivery, which is due in 3 months. If the price of the Euro increases to the upper limit of your expected range, the cost of this shipment would increase to $12,750.00. To protect yourself against this increase while still allowing for increased profits if the Euro were to depreciate, which hedging strategy should you use?

		Buy francs forward.
		Sell francs forward
		Buy a call option.
		Buy a put option
		Sell a call option.
		Sell a put option