A portfolio manager decides to adjust the beta of his $97469 equity portfolio from 0.4 to 1.5 for the next five months. The manager selects a future on the market index, which is currently traded at $543, to adjust the beta of his equity portfolio. The expectation about the market underpinning the adjustment of beta and the number of futures contracts the manager should take are:

a.

The market will be moving down and a short position in 72 futures contracts should be held

b.

The market will be moving down, and a long position in 269 futures contracts should be held

c.

The market will be moving up, and a short position in 197 futures contracts should be held

d.

The market will be moving up, and a long position in 197 futures contracts should be held