You are managing a pension fund with a value of $340 million and a beta of 1.30. You are concerned about a market decline and wish to hedge the portfolio. You have decided to use SPX calls. How many contracts do you need if the delta of the call option is .65 and the S\&P index is currently at 1,250? (Do not round intermediate calculations. A negative value should be indicated by a minus sign. Round your answer to the nearest whole number.) Answer is complete but not entirely correct