For an early stage startup, options value doesn't really change much month to month, since it is typically only determined at funding events. In such a scenari

For an early stage startup, options value doesn't really change much month to month, since it is typically only determined at funding events. In such a scenario, the price of option grants is purely strategic. But for a publicly traded company, backdating may change the financials presented to investors unless the math is done and the changed numbers are explicitly presented.