You believe Boeing's (BA) stock price will increase as FAA (Federal Aviation Administration) recently lifted the order that suspended 737 operations for airlines. So, you purchased 300 shares of Boeing (BA) at $200. However, you are concerned that due to the pandemic and low demand for air travel, the company may lose some of its orders from major airlines, including AA and Southwest Airlines. Answer the following questions in the given order (e.g., a, b, and c):

a) You are willing to risk $2 per share, but you cannot tolerate losing more than $2 per share. How do you hedge your investment risk?

b) How many option contracts would you buy?

c) If the premium of your option contract is $20, what is your breakeven price? (the breakeven price is a price that you will not incur a loss in your portfolio)