$ perl -MO=Deparse,-p  -0777 -e 'print'
BEGIN { $/ = undef; $\ = undef; }
'???';
-e syntax OK

$ perl -MO=Deparse,-p  -0777 -pe 'print'
BEGIN { $/ = undef; $\ = undef; }
LINE: while (defined(($_ = <ARGV>))) {
    '???';
}
continue {
    print($_);
}
-e syntax OK

$ perl -MO=Deparse,-p  -0777 -ne 'print'
BEGIN { $/ = undef; $\ = undef; }
LINE: while (defined(($_ = <ARGV>))) {
    '???';
}
-e syntax OK