Employee Stock Options Suppose you hold Dell employee stock options representing options to buy 10000 shares of Dell stock. You wish to hedge your position by buying put options with three-month expirations and a $35 strike price. How many put option contracts are required? Use the same assumptions specified in the previous problem. (Note that such a trade may not be permitted by the covenants of many ESO plans. Even if the trade were permitted it could be considered unethical.)Employee Stock Options Immediately after establishing your put options hedge volatility for Dell stock suddenly jumps to 45 percent. This changes the number of put options required to hedge your Dell employee stock options. How many put option contracts are now required? (Except for the new volatility use the same assumptions specified in the previous problem.)