Ant) Agnes advises clients on option strategies related to interest rates and bonds. She Institutes a hedge of a $5 million position in bonds using calls. The calls each cover $100,000 par value of bonds, have a delta of 0.4, and are out of the money. A month has passed and the options used to hedge the above portfolio will expire in two months. The price of the bond is unchanged from initiation of the options hedge. In order to keep the position hedged, Agnes must: 1) Do nothing because the price of the bond has not changed. 2) Increase the size of the hedge position because delta has declined. 3) Decrease the size of the hedge position because delta has increased. 04) Increase the size of the hedge position because gamma has decreased