What instructions should have put in place to ensure that the maximum loss this transaction could have incurred is close to 22%? (10 pts)

Math/Physic/Economic/Statistic Problems

If  were to cover (close) all 150 contracts out at a price of 104.90 per lb., what is my ROI, both in dollars and percentage? (10 pts)

What instructions should have put in place to ensure that the maximum loss this transaction could have incurred is close to 22%? (10 pts)