Intel Corp (INTC)

[The Duke of URL]

Excellent. Well.... we now know for sure that MD doesn't stand for Math Department. :)

I'm just noodlyn' here, but if I remember correctly, the reason an average is used is because the price of the stock effects the number of options that are counted as exercisable under Black-Schoales (sp?) to determine which options should be counted toward fully diluted outstanding shares. I suppose you could compare undiluted outstanding share figures, if they are given, but then you don't contemplate the number of in the money options that are exercisable but not exercised.

I have no opinion on which would give the more nearly correct estimate of stock ownership.