If the opening price of Apple is $175 today and the 1 month ATM call options are trading at $4.75 with implied volatility of 24%. Historical volatility is 28%. After a few hours of trading on the same day Apple is still at $175 but the ATM calls are now trading at $4.50, what must have happened?

A. Historical volatility fixed lower

B. Implied volatility decreased

C. Bearish news was released on Apple

D. Short gamma trades have been hedged