An analyst gathers the following Black–Scholes–Merton option valuation model outputs for a call option on a non-dividend-paying stock:

Output	Value
d₁	0.230
d₂	0.053
N(d₁)	0.591
N(d₂)	0.521
N(−d₁)	0.409
N(−d₂)	0.479

To replicate the call option payoffs for a buyer, the initial trading strategy required by the no-arbitrage approach is to: