1. A trader has written 100 calls on stock X, all with the same strike and maturing in a year. The calls were sold at $15 each, and the stock price at the time of sale was $130. After I month, the stock price has increased to $148 and the call premium has increased to $17. How can you hedge the short-call position? a. Buy 10 stocks b. Short 11 stocks c. Buy 11 stocks d. Short 10 stocks e. None of the above 2. Find the delta of a portfolio consisting of 100 short calls and 150 short puts, all written on the same underlying, with the same strike and expiration date. The delta of the call options is 0.4 . a. 50 b. -50 c. -490 d. 100 e. None of the above