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The contract prices for E-mini S&P 500 futures as of 2/28/2018 is shown below. The spot price of S&P 500 Index is 2714.50. Each E-mini

The contract prices for E-mini S&P 500 futures as of 2/28/2018 is shown below. The spot price of S&P 500 Index is 2714.50. Each E-mini S&P500 contract is for $50 x Index price.

Month Futures price Mar-2018 2,718.75 Jun-2018 2,724.50 Sep-2018 2,728.50 Dec-2018 2,734.25 Mar-2019 2,756.00

You decide to increase the beta of your $5mil portfolio from 1.2 to 1.65 using the June-2018 futures. Which trade should you execute?

Buy 17 futures contracts

Sell 17 futures contracts

Buy 44 futures contracts

Sell 44 futures contracts

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