Eastpac Bank has just purchased 1,221 European call options, on stock with a current share price $49, with a strike price of $41 and a term to expiration of 4 years. You know from past experience that the volatility of these shares is equal to 12% pa and that these shares have an average yield of 7% pa. Given that the risk free rate is 4% pa, calculate the delta of these options so that you can advise Eastpac Bank as to how they can hedge their portfolio position. Give your answer to 2 decimal places. You many find this table useful.

Combined delta of the options bought =