Rather than checking the acronym letter by letter, it helps to build up the meaning of HTTP from what each of its four real words actually does.
Hyper refers to something that goes beyond a simple straight line of reading, text that can jump or link to other text instead of only being read start to finish. This is where the idea of clickable links on a webpage comes from.
Text is simply the content itself, the words, structure, and media that make up a webpage, the actual material being moved from one place to another.
Transfer describes the action taking place, the movement of that content from a web server across a network to the device requesting it.
Protocol is the agreed set of rules both sides follow so that the request and the reply make sense to each other, one specific format for asking and one specific format for answering, understood by both the browser and the server.
Put together, these four ideas, linked content, being moved, under a shared rulebook, describe exactly what the acronym is meant to convey. Worth noting is why Program does not belong here at all: a protocol is a set of rules that two separate systems agree to follow, not a standalone piece of software, so swapping in Program changes the meaning of the term entirely.
Therefore, the correct answer is Hyper Text Transfer Protocol.