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You own 7,500 shares of GO stock which is currently valued at $47 a share. The $50 put has a premium of $2.50 and a

You own 7,500 shares of GO stock which is currently valued at $47 a share. The $50 put has a premium of $2.50 and a put delta of -.60. What position should you take in $50 put contracts to hedge your stock against a $1 decrease in price?

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