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You must hedge a delta of $10{,}000$ shares using a one-year futures contract on the same stock, which pays no dividends; the continuously compounded rate is $5\%$ . How many shares’ worth of futures should you sell, to the nearest share?

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Delta hedging in practice: how often, and what it costs

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You must hedge a delta of 10,00010{,}00010,000 shares using a one-year futures contract on the same stock, which pays no dividends; the continuously compounded rate is 5%5\%5%. How many shares’ worth of futures should you sell, to the nearest share?

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You must hedge a delta of $10{,}000$ shares using a one-year futures contract on the same stock, which pays no dividends; the continuously compounded rate is $5\%$ . How many shares’ worth of futures should you sell, to the nearest share?