Queensgate is a large cruise ship operator that runs cruises throughout the globe. A look at their business shows that oil is one of their largest raw materials such that they purchase significant amounts of oil throughout the year. One of the risks faced by the company is that they sell cruise packages many months prior to the time of the cruise, such that any changes in the price of oil from the time they collect revenues from sold cruise packages and the time they set sail can have large impacts on their business profitability. Queensgate is considering the use of options on oil as a way to hedge this risk. Which of the following option positions would you recommend? a. Write puts on the price of oil per barrel b. Buy calls on the price of oil per barrel c. Buy puts on the price of oil per barrel d. Buy straddles on the price of oil per barrel e. Write calls on the price of oil per barrel