Suppose that you have purchased GE shares. You are worrying about decrease in the price of the GE shares that you own. Which of the followings in (1), (2), (3) and (4) can be used to hedge the risk?

(1) Long call options on GE stock

(2) Short call options on GE stock

(3) Long put options on GE stock

(4) Short put options on GE stock

Only (1)

Only (2)

Only (3)

Only (4)

Either (1) or (4)

Either (2) or (3)