Hedging in a Futures Market Does NOT Have Which of the Following

Multiple Choice

Hedging in a futures market does NOT have which of the following features?

A) Hedging protects against adverse price swings.
B) Hedging requires that the spot and the futures prices are positively correlated.
C) Hedging can protect (one's investment or an investor) against loss by making balancing or compensating contracts or transactions.
D) Hedging requires no payment between counterparties due to futures having zero initial value.
E) Hedging protects against the downside but allows you to benefit from the upside.