The treasurer of Table Top Corp. has read on the Internet that the stock price of Swing Inc. is about to take off. In order to profit from this potential development, Table Top purchased a call option on Swing common shares on July 7, 2020, for $480. The call option is for 240 shares (notional value), and the strike price is $80. The option expires on January 31, 2021. The following data are available with respect to the call option:

Date		Fair Value of Option		Market Price of Swing Shares
Sept. 30, 2020		$1,780		$86 per share
Dec. 31, 2020		965		$83 per share
Jan. 4, 2021		1,550		$85 per share

The journal entry for : Table Top settles the call option net on the Swing shares (i.e., without buying the shares) on January 4, 2021 is provided as

Dr. Cash [240x($85-80)] $1,200

Cr. Gain or loss on derivatives $235

Cr. Derivatives Fin. assets/liabilities $965

QUESTION: Why Cr. Derivatives Fin assets/liab. $965 and not $1,550 (the FV on Jan 4, 2021)?