Why are options on cotton futures critical to your business? Find out at a workshop on hedging with options tomorrow, Feb. 27, from 8 a.m. to 5 p.m., at the Peabody Hotel in Memphis.

For beginners, instructors Judith Ganes-Chase and Eric Matsen will provide the basics on using options on futures to manage risk. For intermediate level marketers, they will discuss when and how to use a variety of option strategies including fences, 3-ways and calendar back spreads.

The workshop will also include a production cost outlook by John Robinson, Texas A&M University, a market outlook by Carl Anderson, Texas A&M University and information on hedging your countercyclical payment by Kelli Merritt, CropMark, Inc., Lamesa, Texas.

There will be no attendance fee and lunch will be provided. Contact Raquel Allen, 212-748-4094, or rallen@nybot.com or Kay Wriedt, 919-678-2271, or kwriedt@cottoninc.com.

The event is sponsored by the New York Board of Trade and Cotton Incorporated.