A trader has written 100 calls on stock X, all with the same strike and maturing in a year. The calls were sold at $15 each, and the stock price at the time of sale was $130. After 1 month, the stock price has increased to $148 and the call premium has increased to $17. How can you hedge the short-call position?

a. Buy 10 stocks b. Short 11 stocks c. Buy 11 stocks d. Short 10 stocks e. None of the above