NO.PZ2016082404000025
问题如下：
The current value of the S&P 500 index is 1,457, and each S&P futures contract is for delivery of 250 times the index. A long-only equity portfolio with market value of USD 300,100,000 has a beta of 1.1. To reduce the portfolio beta to 0.75, how many S&P futures contracts should you sell?
选项：
A. 288 contracts
B. 618 contracts
C. 906 contracts
D. 574 contracts
解释：
ANSWER: A
This is as in the previous question, but the hedge is partial (i.e., for a change of 1.10 to 0.75). So, contracts
老师，是不是target beta 减去原本的beta才对啊。而且beta到底啥情况下要加负号计算？老师只讲了n算出来是负的就是short。但是答案自己加了负号计算的
