University Homework, hedge Citigroup, buy/sell USOil

Hi guys,
I am complete newbie and I would like to ask you for help. I have home work with demo account, 50.000 USD:

  1. Hedge Citigroup stocks worth 120.000 USD (bought for 50USD/stock) with SPX500, use beta coefficient
  2. Currency Hedge those stocks with forex in USD/CZK - your primary account is in CZK
  3. Buy/sell (it depends on your analysis) USOil with exactly 16% of 50.000USD. Maximum loss 3% of 50.000USD, limit profit 6% of 50.000 USD

So if I got things right I will have to do:

  1. beta for Citigroup is 1.95, so I have to sell 114 SPX500 (1.95* 120.000/2046)
  2. sell 120.000 USD for CZK
  3. 0.16 * 50.000 / 40.76 = buy/sell 196 USOil, stop 0.03 * 50.000 = 1500 USD … 1500/196 = - 7.65 + 40.76 = 33.11, limit 0.06 * 50.000 = 3000 USD … 3000/196 = 15.31 + 40.76 = 56.07
    Can you please tell me if there are any mistakes (I guess there will be, because I am newbie)?

Thank you very much in advance for every comment and your time.