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You manage a share portfolio currently worth $ 3 0 0 m Australian dollars. The beta of this portfolio is 0 . 8 5 .

You manage a share portfolio currently worth $300m Australian dollars. The beta of this portfolio is 0.85.
Index put options trade on the S&P/ASX200 index with a strike price of 7200.
Calculate the number of index put options required to fully hedge this share portfolio.

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