1. Selling this futures contract directly, to a futures exchange or directly to the next home, has the advantages of reducing or offsetting costs and completely avoiding risks, but has the disadvantage of completely losing arbitrage opportunities.

2. Buy a reverse futures with the same amount, and buy RMB 6,543,800+USD three months later. The disadvantage is to increase the cost, and the advantage is to avoid risks, but at the same time, it also reserves exchange rate arbitrage opportunities.

The story upstairs is incorrect.

It is not recommended to buy in stock. First of all, buying a spot is not called hedging. Spot is used for delivery. The meaning of futures is only to avoid short positions in futures, in case you lose money and default when futures are delivered. Whether there is a deposit or not is of little significance.

Secondly, regardless of the high spot cost, we simply transfer the exchange rate risk of future positions to the spot. As a result, more money was spent on buying futures, and the risk was not reduced at all.

Only futures are used to hedge spot risks, not spot futures risks.

Question 2:

Of course, options can be sold. The only problem is that if there is insufficient demand and poor liquidity, they may not be able to sell in time or at a reasonable price.

The difference between European options and American options lies not in buying and selling, but in execution, and American options can be executed in advance. Option execution and trading are two different things.