Another option is to start the buyback, and announce while still buying, after the company has already completed the majority of what they plan to buy. That way S/P increases but not fast enough to affect companies plan too much. Otherwise, since most of us have stressed that we are here to stay, the shares could dry up. If I think that my shares might be going to the benefit of the company over the long term, I might be more willing to part with a few.