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Please give answer in text 14. Delta Neutrality: Based on the stock portfolio below, use options to build a delta neutral portfolio, keeping the long

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14. Delta Neutrality: Based on the stock portfolio below, use options to build a delta neutral portfolio, keeping the long equity positions as is. NOTE: If an option is a short call or a long put, be sure to remember that these positions have negative delta. UNDERLYING PRICE OPTION PRICE OPTION DELTA 400 Acadia Pharma (ACAD) $26.60 18 Apr 2019 25 call $3.70 .65 30 Netflix Inc. (NFLX) $357.32 17 May 2019 380 put $36.95 -,60 100 Proctor & Gamble Co. (PG) $98.44 5 Apr 2019 95 call $4.35 .75 75 IBM (IBM) $139.20 5 Apr 2019 137 put $4.30 .61 500 Pure Storage Inc. (PSTG) $20.86 17 May 2019 22.5 call $.95 .38 165 ZScaler, Inc (ZS) $60.80 20 Dec 2019 50 call $17.70 .75

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