I have run two scenarios for an example.
Example 1
Which includes the high inflation rate on SBD at the current price for Steem & SBD is as seen below. If you opt for 100% payout you will lose.
Example 2
At the current price for Steem but a US$1 price for SBD is as seen below. If you opt for 100% payout you will will break even and as I have gathered from the other comments SBD cannot go lower than US$1.
Therefor, whilst SBD is higher than US$1 you must never opt for 100% option.
RE: Never Hold on to SBD! They Are Being Devalued At 583.8% Annually (48.65% Per Month).