Consider a portfolio 30% of which is invested in stock A and 70% invested in ETF mimicking the S&P500. Stock A has an expected return of 27% and a standard deviation of 35%, and ETF has an expected return of 19% and a standard deviation of 21%. Calculate stock As beta if correlation between stock A and ETF equals -0.48.

• -1.07
• 1.95
• -0.80
• 1.15

Investor owns 500 shares of company Z which are currently trading at $80 per share. Investor is concerned with preservation of unrealized gains and purchases a put option for 500 shares with a $75 strike price for $150. If a stock price goes up to $105 per share, what is investors gain or loss?

• $12,350 gain
• $150 loss
• $500 gain
• $2,650 gain