You are holding call options on a stock. The stock"s beta is .75, and you are concerned that the stock market is about to fall. The stock is currently selling for $5 and you hold 1 million options on...

You are holding call options on a stock. The stock"s beta is .75, and you are concerned that the stock market is about to fall. The stock is currently selling for $5 and you hold 1 million options on the stock (i.e., you hold 10,000 contracts for 100 shares each). The option delta is .8. How many market index futures contracts must you buy or sell to hedge your market exposure if the current value of the market index is 1,000 and the contract multiplier is $250?