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It's July 16. A company has a portfolio of stocks worth $100M. The beta of...

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Finance

It's July 16. A company has a portfolio of stocks worth $100M. The beta of the portfolio is 0.1. The company would like to use the December futures contract on a stock index to change the beta of the portfolio to 0.5 during the period July 16 to November 16. The index futures price is 1,013 and each contract is on $250 times the index. How many futures contracts should the company enter into (after rounding to the nearest contract)? (enter positive number for long contracts and negative number for short contracts)

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