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On November 1 , 2 0 2 3 , a company has merchandise reported at a cost of $ 1 0 , 0 0 0

On November 1,2023, a company has merchandise reported at a cost of $10,000 and with a fair value of $15,000. It invests $600 in three-month put options with a strike price of $15,000. At the companys December 31,2023, year-end, the merchandise has a fair value of $13,000 and the options are worth $3,000. On January 31,2024, the merchandise has a fair value of $10,500 and the company sells the options for $4,500. The company uses hedge accounting and designates the intrinsic value of the options as the hedge. What is the net effect of the events of 2023 on 2023 OCI if the company systematically amortizes the option time value to income on a straightline basis?

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