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You own 2 , 0 0 0 shares CAD Inc. CAD put options have a delta of . 7 5 . You are concerned that

You own

2, 000

shares CAD Inc. CAD put options have a delta of

. 75 .

You are concerned that CAD stock may drop in value after its upcoming earnings announcement. How many put options contracts must you purchase to

insure

your entire position?

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