Considering their "brain trust" it's no surprise! They're too busy "mining " options and SHs to consider benificial market timing!
They are more silent and insidious than a pick-pocket! ((At least his (the pick-pocket I mean!) rewards are "earned!"))
No doubt the occasional option holder has "earned" himself a few, but most don't fit this category! (Certainly SAN isn't alone!)
JMHO! Somewhat facetious, but no doubt vey close to "bang on!"
Without predjudice!
RUF