A fund manager has a well-diversified portfolio that mirrors the performance of the Hang Seng Index and is worth $1 bill

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A fund manager has a well-diversified portfolio that mirrors the
performance of the Hang Seng Index and is worth $1 billion. The
value of the Hang Seng Index is 28,000, and the portfolio manager
would like to use a covered call strategy with strike price 5%
above the current level over the next three months. The risk-free
interest rate is 1% per annum. The dividend yield on both the
portfolio and the Hang Seng Index is 2%, and the volatility of the
index is 20% per annum.
a.If the fund manager trades European call options, how much
would the manager spend on trading the call?
b. Explain alternative strategies open to the fund manager
involving European put options, and show the amount of money the
fund manager will deposit to or borrow from bank.
c. If the fund manager decides to maintain a delta with the same
as covered call without using any options, how much stocks the fund
manager has to sell?
d. If the fund manager decides to maintain a delta with the same
as covered call using futures, how many futures contracts the fund
manager has to trade? Assume the multiple of futures contract is
50.