KDRO, page-3

they did not lag when the last announcement was made (where they traded at a premium) but they started to lag with the selling

if the market sentiment is bearish, they will lag

if the market sentiment is bullish they will not lag

if/when there is another outstanding announcement, they should catch up

as the share prices gets higher, they will not trade at a premium because as the share price gets higher the advantage or leverage of options reduces

as the share price gets higher & bullish, they should trade at their value of 15 cents below the share price

imo