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The current price of a non-dividend-paying stock is $38.49. Over the next year it is expected to rise to $46.55 or fall to $32.62. An

The current price of a non-dividend-paying stock is $38.49. Over the next year it is expected to rise to $46.55 or fall to $32.62. An investor buys a one-year put option, with a strike price of $43.57. In order to hedge the option position, how many shares should the investor buy or sell?

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