Find the missing character?

Answer: Option B

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Work On Alphabetical Order of the Letters.

First Column (Top to Bottom):
A + 4 = 5 = E
E + 4 = I
I + 4 = M
M + 4 = Q

Second Column (Bottom to Up):
Q + 4 = U
U + 4 = Y
Y + 4 = C.
Similarly, Use the Pattern Suggested in the Diagram. And add each time 4 to letter to find the next letter. So,

Missing Character = W is S + 4 = W.