Adam Smith is a portfolio manager with Point72 Investments, a U.S.-based asset management firm. Smith is considering using portfolio returns and control risk. He asks his junior analyst, Tommy Lee, to help him. Lee collected and summarize the relationship of a European call option and various factors that might impact the call option value in Table 1. Which of the relationships shown is incorrect? (Choose the best answer)

Table 1

Impact of Increasing the Variables on Call Option Value
Variables	Impact on Call Option Value
Stock Price	Increase
Strike Price	Decrease
Maturity	Increase
Volatility	Increase
Interest Rate	Increase
Dividend	Increase