Q5] Consider an investor in April holds 20,000 shares of a company, each share worth $100. The investor believes the stock will outperform the market in the next three months, but worries the market may go down. The beta of the company is 1.1. Suppose the futures price for the August contract on the S&P 500 index is 900, and each contract corresponds to 250 times the index. What should be the strategy of the investor? Suppose that the investor closes out the position in July, when the stock price of the company is $90, and the futures price of the S&P 500 index is 750. Calculate the gain or lose of the investor. [4 points)