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Suppose you are the CFO of an oil refiner and you wish to hedge your future production price risk of crude oil using options. Your company will produce a total of 6.4 million barrels of oil over the next three months.  The six-month crude oil futures contract is trading at $38/bbl. The price of the three-month 34 put is $2.05/bbl. The price of the three-month 41 call is $2.25/bbl.   Instead of selling futures contracts at $38 to hedge your risk, you decide that you will sell the 41 call options AND purchase the 34 put options to hedge your price risk. Futures and option contracts on crude oil represent 1,000 bbl./contract. a. How many contracts of each option do you need to sell/purchase? (Round answer to zero decimals. Do not round intermediate calculations) [a] b. What is your total cash outlay? (Round answer to zero decimals. Do not round intermediate calculations) [b] c. What is your breakeven point in terms of the oil settlement price? (Round answer to 2 decimal places. Do not round intermediate calculations) [c] d. What is your maximum loss (in $/bbl)? (Round answer to 2 decimal places. Do not round intermediate calculations) [d] e. What is your maximum gain (in $/bbl)? (Round answer to 2 decimal places. Do not round intermediate calculations) [e] f. If the price of oil settles at $46 in four months, what is your net selling price (in $/bbl)? (Round answer to 2 decimal places. Do not round intermediate calculations) [f] g. If the price of oil settles at $33 in four months, what is your net selling price (in $/bbl)? (Round answer to 2 decimal places. Do not round intermediate calculations) [g]

Suppose you are the CFO of an oil refiner and you wish to hedge your future production price risk of crude oil using options. Your company will produce a total of 10.7 million barrels of oil over the next three months.  The six-month crude oil futures contract is trading at $41/bbl. The price of the three-month 39 put is $2.35/bbl. The price of the three-month 42 call is $2.81/bbl.   Instead of selling futures contracts at $41 to hedge your risk, you decide that you will sell the 42 call options AND purchase the 39 put options to hedge your price risk. Futures and option contracts on crude oil represent 1,000 bbl./contract. a. How many contracts of each option do you need to sell/purchase? (Round answer to zero decimals. Do not round intermediate calculations) [a] b. What is your total cash outlay? (Round answer to zero decimals. Do not round intermediate calculations) [b] c. What is your breakeven point in terms of the oil settlement price? (Round answer to 2 decimal places. Do not round intermediate calculations) [c] d. What is your maximum loss (in $/bbl)? (Round answer to 2 decimal places. Do not round intermediate calculations) [d] e. What is your maximum gain (in $/bbl)? (Round answer to 2 decimal places. Do not round intermediate calculations) [e] f. If the price of oil settles at $47 in four months, what is your net selling price (in $/bbl)? (Round answer to 2 decimal places. Do not round intermediate calculations) [f] g. If the price of oil settles at $38 in four months, what is your net selling price (in $/bbl)? (Round answer to 2 decimal places. Do not round intermediate calculations) [g]

Suppose you are the CFO of an oil refiner and you wish to hedge your future purchase price risk of crude oil using options. Your company will need to purchase a total of 11.3 million barrels of oil in next four months.   The six-month crude oil futures contract is trading at $27/bbl. The price of the four-month 26 put is $1.95/bbl. The price of the four-month 31 call is $1.72/bbl.   Instead of buying futures contracts at $27 to hedge your risk, you decide that you will purchase the 31 call options to hedge your price risk. Futures and option contracts on crude oil represent 1,000 bbl./contract. a) How many contracts do you need to purchase? (Round answer to zero decimals. Do not round intermediate calculations) [a] b) What is your total cash outlay? (Round answer to zero decimal places. Do not round intermediate calculations) [b] c) What is your breakeven point in terms of the oil settlement price? (Round answer to 2 decimal places. Do not round intermediate calculations) [c] d) What is your maximum loss (in $/bbl)? (Round answer to 2 decimal places. Do not round intermediate calculations) [d] e) What is your maximum gain (in $/bbl)? (Round answer to 2 decimal places. Do not round intermediate calculations) [e] f) If the price of oil settles at $35 in four months, what is your net purchase price (in $/bbl)? (Round answer to 2 decimal places. Do not round intermediate calculations) [f] g.) If the price of oil settles at $23 in four months, what is your net purchase price (in $/bbl)? (Round answer to 2 decimal places. Do not round intermediate calculations) [g]

A parent presents to clinic with concerns that “their 18 month old’s big toes are turned too far in”. The provider is reassured on physical exam that the cause of in-toeing is consistent with a common condition of _________ and that it will likely resolve without intervention because the forefoot ___________.

A client who is 2 days postoperative reports pain and requests pain medication. After assessing the client’s pain level, the nurse administered the ordered oral oxycodone hydrochloride-acetaminophen (Percocet) to the client. The nurse is completing which step of the nursing process?

Across all personality disorders, difficulties are most likely to manifest in which two of the following areas?

During a routine assessment, a nurse notices pale areas over the heels of an immobile patient that turn white when pressed but return to a reddish hue after release. How should the nurse interpret and respond to this finding?

1. Do you support the legalization of marijuana? Give at least 2 reasons to justify your claim and make sure to elaborate. (4 points) 2. Why is the statement “marijuana is a gateway drug” inaccurate? (2 points) 3. Explain what harm reduction treatment is for substance use disorders. Provide an example. (4 points)

Which of the following is an example of an erotomanic delusion. 

The agreed upon p value that is considered statistically significant in PT literature is: