A Portfolio Manager Is Concerned That the Expected Drop in Interest

A portfolio manager is concerned that the expected drop in interest rates is going to lower the yield on the $1,000,000 of T-Bill she plans to buy in 3 months. She can hedge this potential interest rate risk by

A) taking a short position in 3-month T-bill futures.
B) taking a long position in 3-month T-bill futures.
C) buying a call option on 3-month T-bill futures.
D) buying a put option on 3-month T-bill futures.
E) Either b or c would work.