A hedge ratio of $0\mathrm{.}70$ implies that a hedged portfolio should consist of

Group of answer choices

long $0\mathrm{.}70$ shares for each short call.

None of the options are correct.

long $0\mathrm{.}70$ shares for each long call.

short $0\mathrm{.}70$ calls for each long stock.

long $0\mathrm{.}70$ calls for each short stock.