Please explain the following :

1.Exposure of risk for long call and short put. 2. Value tilt :fundamental weighting

You really need to try and phrase your question more clearly.

  1. You’re exposed to counterparty risk at long call not at short position.

1a. You’re exposed at high risk if you have naked short put but the risk is limited with -(X-St), whereas at short put, St is limited with 0.

  1. Value tilt is related to indices style what means that fundamental weighted indices have bias to value and small cap stocks.