On October $2,20$X$1,$ Best Company paid $$200$ to purchase a call option contract to purchase $1,000$ shares of Winter Corporation's common stock on March $1,20$X$2.$ Winter Corporation stock was trading at $$100$ per share on October $2,20$X$1$ and $$150$ per share on December $31,20$X$1.$ The appraised time value of the option contract at December $31,201$ is $$140.$ Which of the following statements about the option contact is correct?

The options contract will be reported as a current asset at its cost of $$200$ with no unrealized holding gains or losses recognized.

The option contract will be reported as a current asset at its intrinsic value of $$50,200$ on the December $31,201$ balance sheet.

Best will report an unrealized holding gain in other comprehensive income of $$50,000$ on the options contract for $20$X$1.$

The asset's $$50,140$ carrying value will be reported as a current asset on Best's December $31,201$ balance sheet.