The Black-Scholes hedge ratio for a long call option is equal to ________. A) N(d₁) B) N(d₂) C) N(d₁) − 1 D) N(d₂) − 1

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The Black-Scholes hedge ratio for a long call option is equal to the delta of the option, which is denoted by N(d1), where N() is the cumulative distribution function of a standard normal distribution. The choices provided seem to be incorrectly formatted, but option A is the closest to representing the delta of a call option, which is N(d1), without the subtraction or additional terms found in the other options.

The Black-Scholes Hedge Ratio for a Long Call Option Is