The current futures for WTI crude are show below. Each contract is for 1,000 barrels (bbl). Assume the spot price today, on 9/26/2016, is 45.25. Month Last price Change Open High Low Nov 45.59 +1.11 44.62 46.20 44.43 2016 Dec 2016 Jan 2017 Feb 2017 Oct 2017 46.14 +1.07 45.18 46.76 45.01 46.74 +1.05 45.83 47.35 45.62 47.29 +1.01 46.65 47.91 46.22 50.24 +1.15 49.71 50.55 49.71 You own an oil refinery and expect to sell 200,000 gallons of gasoline in October. The standard deviation of daily change in crude prices is 25%, and the standard deviation of daily change in gasoline prices is 30%. The correlation between gasoline and crude prices is 0.90. There are 42 gallons in a barrel of oil. Adjusted for daily settlement, what is the optimal number of contracts you should use to hedge your exposure? Pick the best answer.