The manager of a blue chip growth stock mutual fund is trying to fully hedge the $15 million portfolio position during the last two months of the calendar year. The current price of the December S&P 500 Index futures contract is 3000. Recall that the multiplier on the e-mini S&P500 futures contract is 50. How many contracts will be needed to hedge the fund?

a. 300

b. 100

c. 600

d. 150

e. None of the above