ACI Dealing Certificate (#267)

How would you delta hedge a deeply “in-the-money” short put option?

Go short of the underlying commodity equal to 50% of the size of the option contract
Go long of the underlying commodity equal to 50% of the size of the option contract
Go long of the underlying commodity equal to more than 50% of the full size of the option contract
Go short of the underlying commodity equal to more than 5O% of the full size of the option contract