regression analysis of the dividend futures to the Eurostoxx 50 index from June-08 to today. The first chart is 2011 (DEDZ1) and the second is 2012 (DEDZ2). For both years the beta to the index is approx. 66%, suggesting a hedge ratio of 1.5x the notional. A 3 month 90%/75% put spread on the Eurostoxx