A trader at ING International has a short position in 25000 stocks. The stock price is $102. The trader decided to use PUT options on the stock for delta hedging. The exercise price is $100. The option expires in on year. Continuously compounded risk-free rate is equal to 5%. Use the web application for a CALL option with the same exercise price. Then calculate the PUT option price and its delta: P=C+erfTXS(put-callparity)deltaPUT=deltaCALL1. a) How many options should be bought or sold to delta hedge the stock position