You manage a share portfolio currently worth

$30m Australian dollars. The beta of this portfolio is 1.15.

Index put options trade on the S&P/ASX200

index with a strike price of 7200.

Calculate the

number of index put options required to fully hedge this share portfolio.

Note that S&P/ASX200 index

options have a standard multiplier of $A10. Round your answer to the

nearest whole number.