I think once options expire, SP will go up... I don’t believe it’s a conspiracy though... lol.
Option holders including myself at times start selling the heads at the higher price a few months out in order to get the cash to execute the lower price options, inadvertently those investors have caused the SP to go under execution price. I’ve seen this happen heaps of time. (I’m not saying they are the only catalyst for lower SP, but certainly contribute to it)
Take note of companies that have upcoming expiring options, investors start selling heads a couple of months out, if there is good sentiment in the sector the selling is usually obsorbed by the buyers... unfortunately we have not had such tail winds.