the U$.$S$.$ dollar in the coming $3-$month period. He has $$100,000$ to invest. The current spot rate is $$(0\mathrm{.}5820)/($S$)$F$,$ the $3-$month forward rate is $$(0\mathrm{.}5640)/($S$)$F$,$ and he expects the spot rates to reach $$(0\mathrm{.}6250)/($S$)$F in three months. a$.$ Calculate Christoph's expected profit assuming a pure spot market speculation strategy. b$.$ Calculate Christoph's expected profit assuming he buys or sells SF three months forward. $9.$ Vatic Capital. Cachita Haynes works as a currency speculator for Vatic Capital of Los Angeles. Her latest speculative position is to profit from her expectation that the U$.$S$.$ dollar will rise significantly against the Japanese yen. The current spot rate is $\backslash (120\mathrm{.}00/\backslash$$ $\backslash ).$ She must choose between the following $90-$day options on the Japanese yen: a$.$ Should Cachita buy a put on yen or a call on yen? b$.$ What is Cachita's break$-$even price on the option purchased in part $($a$)?$ c$.$ Using your answer from part $($a$),$ what is Cachita's gross profit and net profit $($including premium$)$ if the spot rate at the end of $90$ days is $\backslash (140/\backslash$$ $\backslash )?$