问题如下：
8.The strategy suggested by Lee for hedging small moves in Soiomon‘s ETF position would most likely involve:
选项：
A. selling put options.
B. selling call options.
C. buying call options.
解释：
B is correct
because selling call options creates a short position in the ETF that would hedge his current long position in the ETF.
Exhibit 2 could also be used to answer the question. Solomon owns 10,000 shares of the GPX, each with a delta of +1; by definition, his portfolio delta is + 10,000. A delta hedge could be implemented by selling enough calls to make the portfolio delta neutral:
Solomon owns 10,000 shares of the GPX, each with a delta of +1; by definition, his portfolio delta is + 10,000. 这里为什么portfolio delta是+10000？
