Ann: Entitlement Offer of Loyalty Options, page-52

Guess it depends on your outlook. $3,750 is chump change to convert if the SP gets close to ATHs. And the options are held with no risk to existing capital in case the SP does continue to slide lower in the short term.

I'm not sure we're even arguing. Maybe just different sentiments towards the future prospects of this company. Options probably aren't a good bet if you're not willing to hold on to them. Guess that's why they're called loyalty options, given the record date does not favour existing holders