What is the basic idea behind the delta-hedging approach to valuing a derivative?

Select one:

If we buy shares and enter one short derivative, the payoff to this two-piece portfolio is certain/riskless.

If we buy shares and enter one long derivative, the payoff to this two-piece portfolio is certain/riskless.

If we buy shares and invest $B in the bank, the payoff to this two-piece portfolio precisely matches the payoff to the derivative.

If we buy shares and invest $B in the bank, the payoff to this two-piece portfolio is certain/riskless.

If we buy shares and enter one short derivative, the payoff to this two-piece portfolio precisely matches the payoff to the derivative.