Since hedging has been done, in order to prevent the stock price from falling, only the contract can be sold, and the calculation formula is as follows:

Sold quantity = total spot value/(spot index point× multiplier per point )×β =1000000/(1530× 250 )×1.2 = 3 1 .37, that is, about 3/kloc-was sold. The standard & poor's futures index represents $250 per point.