The given statements are related to financial derivatives. Choose the correct answer for the statements being correct or incorrect.
Statement I A speculator will gain, if he sells foreign currency under a forward contract, when the spot price is higher than the forward price.
Statement II In currency futures, intra currency spread exists when a speculator buys/sells the same currency for two delivery dates.

A. Statement I is correct, but Statement II is incorrect

B. Statement II is correct, but Statement I is incorrect

C. Both statement are correct

D. Both statements are incorrect

Answer: Option B