想问一下Statement I里的具体操作

问题如下：

Which of the following situations describe a hedger with exposure to basis risk?

I. A portfolio manager for a large-cap growth fund knows he will be receiving a significant cash investment from a client within the next month and wants to preinvest the cash using stock index futures.

II. A farmer has a large crop of corn he is looking to sell before June 30. The farmer uses a June futures contract to lock in his sales price.

选项：

A.

I only.

B.

II only.

C.

Both I and II.

D.

Neither I nor II.

解释：

C 这两种情况都描述了基差风险的敞口——现货价格和期货交割价格之间差异变化的风险。使用期货预投资现金的投资组合经理不知道确切的现金收到日期，可能需要卖出或持有期货合约的时间比预期更长。农民如果在6月期货到期日之前就卖掉他的玉米，可能需要提前卖掉他的6月期货合约。