No.PZ2020012001000032 (问答题)
来源: 原版书
It is now February. A company knows that in May it will have to sell 10,000 barrels of crude oil. It uses the CME Group June futures contract for hedging. Each contract is on 1,000 barrels of light sweet crude. What position should it take? What are the price risks that it is exposed to after taking the position?
解析
The company should short 10 (= 10,000/1,000) contracts. It is exposed to basis risk. There are two components to this: the excess of the spot price of light sweet crude over the futures price when the hedge is closed out in May and the difference between the spot price of light sweet crude and the crude oil that the company is selling.
问题：我觉得答案应该是：如果目前这家公司是long spot手里有现货，则short 10 futures contract；如果目前这家公司是short spot手里没现货，则long 10 futures contract，而不是直接说short，题目里也没说目前这家公司手里有没有现货，不理解答案
