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Stock in ACAD corp has been found to have a volatility of 80%. The risk-free rate is 2% (annual, continuously compounded), and the current stock

Stock in ACAD corp has been found to have a volatility of 80%. The risk-free rate is 2% (annual, continuously compounded), and the current stock price is 20. The stock does not pay dividends. Using the Black-Scholes model, calculate the amount of stock needed to open a hedge against the sale of 100 strikes 15 European call option contracts, each expiring in six months.

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