This example is part of "Hedged Portfolios" to minimize risk. Assume you have $9000 to invest; A stock is trading at $90.00. A call option that expires in one year with a strike price of $90.00 is trading at $10.00. T-Bills are yielding a 1-year return of 2%. Suppose you invested $3000 in Options and the remaining $6000 in T-Bills.

What is your portfolio's 1-year return if you invest in "Options and T-Bills" and the the stock price after one year is $115.00? Hint: Answer is between 0.4569 and 0.5647

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