The gamma and vega of a delta-neutral portfolio are 60 and 31, respectively, where vega is per %. Estimate what happens to the value of the portfolio when there is a shock to the market causing the underlying asset price to decrease by $5 and its volatility to increase by 6%.

1. The value of the portfolio will (increase/decrease)if there is a shock to the market that will cause the underlying price of the asset to decrease by $5 and the volatility to increase by 6%.
2. The value of the portfolio will change to $if there is a shock to the market that will cause the underlying price of the asset to decrease by $5 and the volatility to increase by 6%.