For problem 7 and 8, use the table below. Option Price delta July 40 call July 35 put 1.95 0.85 0.60 -0.35 7. (5 points) A portfolio contains 38,000 shares of Moose Creek Chemical stock. How many July 35 put contracts must the portfolio manager buy to remove half of the market risk of the stock? 8. (9 points) Instead of removing half of the market risk, as in 8 above, assume the manager wants to increase the market exposure to a position delta of 42,000 without a cash outlay. How many of each option should she buy or write? in