Julius No is a currency trader who writes a call option with a strike price of US$0.74/S$ at an option premium of $0.005 per Singapore Dollar (S$), and an expiration date 90 days from today. The option is for S$0.5 million. What is the gain or loss to Julius on expiration of the option if the spot rate at maturity is US$0.72/S$?

A. $2,500 loss

B. $0

C. $2,500 gain

D. $12,500 loss

E. $12,500 gain