NISM Series XIII Common Derivatives Certification Exam Notes
Page 152 Of 303
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Contingent Cash Flow:Options suit cases where cash flow is uncertain (e.g., bids, agriculture).
Bear Put Spread:Buy higher strike put, sell lower strike put to hedge with lower premium.
Hedging with Calls:Protects importers from currency appreciation risk.
Bull Call Spread:Buy ATM/ITM call, sell OTM call to lower premium cost.
Speculators' Use:Speculators take directional positions using futures or options.
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