Currency Derivatives

Future or Options as a hedger

Assume that you are a US manufacturer and frequently undertake export and import transactions with a particular country (use your assigned country). What is the best way to hedge? Should you use futures or should you use options? Discuss.
Use the CME and PHLX websites to look at actual contract specifications.
WWW.cmegroup.com

Futures or options as a speculator

With the expertise that you have gained in your International Finance Class, you are contemplating becoming a fx trader. You want to speculate on a particular currency (use your assigned currency). What is a better choice for speculating futures contracts or options contracts?
Refer to CME and PHLX websites to look at actual contract specifications.
WWW.cmegroup.com

Black Scholes
Write a one-paragraph summary of the Black-Scholes formula and argue for or against “the most important equation in finance”.
Here is a documentary to give you some more background