1.Delta of a contract is -1 and gamma is 0. Which type of position is this? a. A long call option b. A long futures contract c. A short futures contract d. A short put option 2.

You bought an equity portfolio currently worth $20 million, with a beta 0.8. The equity market index is currently at 4,000. How many futures contracts do you need to short to hedge your position, if the contract multiplier is 250?

	a.	20
	b.	10
	c.	16
	d.	40