Xiaozhi Construction Company purchased 1,000,000 building materials on March 23, 2020, to avoid buying 500 call options on the day of its fair value. It can purchase 50,000 units of building materials at the strike price of 20 (the market price on the purchase call date is 20), and the call option expires The day is 2020.12.20, and its market price and time value changes are as follows

  

2020/3/31 2020/6/30 2020/12/10 Market price FV $19 $22 $24 Time value of call option 400 300 20