Suppose a portfolio holds 6,000 shares of ABC, and a call option on stock ABC has a delta of 0.4. To completely delta hedge this long position, the portfolio manager could __________contracts (1 contract=100 options) of the option.

POSSIBLE ANSWERS:

- write 100

- write 60

- write 150

- long 100

Please explain why it's "write" instead of "long" and how we arrive at 150.