The current price of a non-dividend-paying stock is 60. Over the next 7 months it is expected to rise to 78.0 or fall to 42.0. The continuously compounded risk-free rate is 5% per annum. A trader buys a European put option with a strike price K = 75 that expires after T = 7 months. To hedge this position, the trader needs to: Buy 1.09 shares for each put option bought. Sell .92 shares for each put option bought. Buy .92 shares for each put option bought. Sell 1.09 shares for each put option bought.