The correct option is A Cortex
Cork cambium is the extrastelar lateral meristem that produces extrasteler secondary tissue system. Cortex is the ground tissue which surrounds the central stele and is derived from ground meristem. Hypodermis refers to 5-7 layers of cortical cells present just beneath the epidermis which resume the meristematic activity and produce phellogen or cork cambium just beneath the epidermis. The outer most covering of stele forms pericycle, it is an intrasteler tissues present in a stele which means that phellogen (extrastelar lateral meristem) cannot be produced by pericycle. The phellogen or cork cambium produces cork or phellem towards the periphery and phelloderm towards inner side. As phellem and phelloderm are the product of cork cambium, not its progenitor.
Thus, the correct answer is option A.