If you no longer wanted to be long +$700 gamma, what would you try to do to hedge the gamma dynamically?

sell an extra 700 shares of the S&P 500 Index

buy an extra 700 shares of the S&P 500 Index

sell an option in a quantity such that the net gamma of that trade would equal

- $700 gamma, thereby offsetting the original +$700 gamma

d. buy an option in a quantity such that the net gamma of that trade would equal + $700 gamma, thereby offsetting the original +$700 gamma

The at-the-money option typically has the highest vega compared to in-the-money options and out-of-the-money options with the same expiration date and other variables.

True or False