On April 1, 2020, Gamma Corp. purchases a call option for $500, which gives Gamma the right to buy 1,000 shares of Delta Inc. for $30 each until December 1, 2020. Delta Inc. shares are currently trading for $30. At June 30, 2020, the options are trading at $4,800 and the shares at $32 each. At December 1, 2020, the options expire with no value. The time value of the option at April 1, 2020 is O $30,000. O $4,800. O $0. O $500