You have a complex portfolio whose value is related to the S&P index; the index level ("price") is currently 3000. To simplify, interest rates and dividend yields are zero. You consider the approaches of the previous questions: using put contracts to hedge, and using futures contracts to hedge (your exposure to S&P index price movements). Value ($) 20,000,000 Delta ($/index level unit) +14,000 Portfolio Which approach changes your overall portfolio gamma by more? O Not enough information is given to determine the answer. Hedging with puts and hedging with futures change gamma equally. O Hedging with futures changes gamma more than hedging with puts. Hedging with puts changes gamma more than hedging with futures