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question 3 The e-mini S&P 500 futures (for the delivery of $50 value) with 6 months to maturity is used to hedge a $2 million

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The e-mini S&P 500 futures (for the delivery of $50 value) with 6 months to maturity is used to hedge a $2 million portfolio with a = 1.6 over the next 5 months, where the e-mini S&P 500 futures price is 4,350. How many e-mini S&P 500 future contracts are needed?

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