Ways to use option to hedge investment

Let's say I converted $100,000 CAD into USD, for investment, and want to buy back same amount of CAD in 2 or 3 years.
What is the most cost affective way to hedge this?
Buy "Call Option" that is at/near market price as of today with the same amount in notion value?

Thanks.

 

Don't buy USD.

 

Ha, That's one.

Joking aside. what would you do to hedge this?

 

• Hedging is too expensive.
• Buy back CAD in 2 or 3 years at the going exchange rate.

 

So you are expecting CAD to go down or flat after 2 or 3 years

 

1. No ...... I have no views on USD/CAD
2. If I needed USD now I would buy USD at todays exchange rate.
3. In 2 or 3 years buy back CAD at the going exchange rate.
4. #2 and #3 is based on your OP.

 

One futures contract is 100,000 Canadian dollars.

http://www.cmegroup.com/trading/fx/g10/canadian-dollar_contract_specifications.html