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Futures price of S&P 500 index is 1,000. Size of your stock portfolio is $2 million, its Beta 1.5; 1 contract is on $250 times

Futures price of S&P 500 index is 1,000. Size of your stock portfolio is $2 million, its Beta 1.5; 1 contract is on $250 times the index. What position in S&P500 futures contracts is necessary to reduce the portfolio beta to 1?

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