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17. According to the CME Group, the market price of the E-mini futures is $2,939.25. Each futures contract delivers 50 times the index. A long-only

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17. According to the CME Group, the market price of the E-mini futures is $2,939.25. Each futures contract delivers 50 times the index. A long-only equity portfolio with market value of USD $10,000,000 has a beta of 1.5. The portfolio manager is planning to increase market exposure such that the portfolio beta becomes 2. How many futures contracts should the manager long/short? (a) Short 34 (b) Long 34 (c) Short 12 (d) Long 12

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