A put option on the S&P 500 index will best protect a portfolio...

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Finance

A put option on the S&P 500 index will best protect
a portfolio that corresponds to the S&P 500.
a portfolio of 50 bonds.
a portfolio of 100 shares of IBM stock.
a portfolio of 50 shares of AT&T and 50 shares of Xerox stocks.
a portfolio that replicates the Dow.

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