You manage an equity portfolio worth $1,000,000 with a CAPM B of 1.00. You want to immunize your portfolio with respect to the market over a one-year horizon. To do this, you plan to use E-mini futures contracts. E-mini futures have a contract size of 50 units of the S&P 500 index. Today's spot price of the S&P 500 index is $3,000. The c.c. risk-free interest rate is five percent and the c.c. dividend yield on the S&P 500 index is seven percent. Assume there is no arbitrage. How many E-mini contracts do you need to buy or sell in order to achieve your desired market exposure? (If buying, enter the number of contracts as a positive number. If selling, enter the number of contracts as a negative number.)

You manage an equity portfolio worth $1,000,000 with a CAPM of 1.00 . You want to immunize your portfolio with respect to the market over a one-year horizon. To do this, you plan to use E-mini futures contracts. E-mini futures have a contract size of 50 units of the 5&P500 index. Today's 5p0t price of the S\&P 500 index is $3,000. The c.c. risk-free interest rate is five percent and the c.e. dividend yield on the S\$.P 500 index is seven percent. Assume there is no arbitrage. How many E-mini contracts do you need to bury or sell in order to achieve your desired market exposure? (If buying. enter the number of contracts as a positive number. If selling, enter the number of contracts as a negative number.)