An investor holds 50,000 shares of an ETF which is trading at $30 and has a beta to the S&P500 of 1.3. The investor wants to hedge against market movements over the next month and decides to use the September eMini S&P 500 futures contract. The index is currently 1,500 and one contract is for delivery of $50 times the index. Which of the following would best hedge the investors portfolio?

a. Sell 20 S&P500 futures contracts

b. Buy 1000 S&P500 futures contracts

c. Buy 50000 S&P500 futures contracts

d. Sell 1000 S&P500 futures contracts

e. Sell 26 S&P500 futures contracts