A financial institution has the following portfolio of over-the-counter options on an underlying asset:

Type	Position	Delta of Option	Gamma of Option	Vega of Option
Call	-700	0.4	2.0	1.6
Call	-600	0.7	0.5	0.4
Put	-200	-0.3	1.4	0.8
Call	-400	0.6	1.9	1.3

A traded option is available with a delta of 0.8, a gamma of 1.4, and a vega of 0.7.

1. Can the portfolios vega be changed by taking a position in the underlying asset? Explain your answer. (2 mark)
2. Estimate delta, gamma and vega of the portfolio (4 marks)
3. How could the portfolio be made delta and vega neutral? (round your answers for the option contracts to the nearest whole number) (4 marks)