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You own 1,200 shares of Banner Co. stock that is currently priced at $42 a share. Given this price, the option delta for a $40

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You own 1,200 shares of Banner Co. stock that is currently priced at $42 a share. Given this price, the option delta for a $40 call option on this stock is .664. How many $40 call options do you need to hedge against a -$1 change in the price of the stock and what would the strategy be? If you used put options, what would the strategy be? 7 A B I ili

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