I think the market cap explanation is a cope out. There are some funds that do have these restrictions but are also smaller funds which do not have these restrictions in their constitutions. Right now we have Sio which is pretty passive n Mercer. It's on Mercer interest not to let the share price run away as the options would then be exercised higher. However Wayne on the other side of the equation should also garner interest from other insto to ensure a higher put price but wayne has mistakenly let the science do the talking without massaging FOMO emotions
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