We have a 2-state, 2-period world (i.e. t = 0, 1, 2). The current stock price is 100 and the risk-free rate each period is 2%. Each period the stock can either go up by 10% or down by 10%. A European call option on this stock with an exercise price of 100 expires at the end of the second period. What is the initial (t = 0) hedge ratio? (closest answer) 0.32 10.89 O 1.00 0.22 O 0.62