4. What if, instead of hedging with futures contracts, the Pernellis decide to set up the hedge by using futures options? Now, suppose a put on the ASX 200 Index futures contract (strike price = 3250) is currently quoted at 58, and a comparable call is quoted at 23.5. Use the same portfolio and futures price conditions as set out in part 3 to determine how well the portfolio would be protected. (Hint: Add the net profit from the hedge to the new depreciated value of the share portfolio.) What are the advantages and disadvantages of using futures options, rather than the market-index futures contract itself, to hedge a share portfolio?