XYZ Inc has purchased 111 call options on the shares of ABC Corp with each option giving XYZ Inc the right to buy one ABC Corp common share at a strike price of $75.00 per share. XYZ paid $1.84 for each option. Two months later, on the next financial reporting date, the market value of each option is $7.04 per option, while each ABC Corp share is trading at $81.65 per share. What is the absolute value of the total derivatives gain or loss to be recorded by XYZ on this financial reporting date? Ignore any commissions. O a. $592 O b. $606 O c. $635 O d. $620 O e. $577