I've put together a table showing the outstanding stock options as of the latest fiscal year end for all the Rule Maker companies. It shows a dilution ratio in the hypothetical case that all options were to be exercised on that date. The dilution is calculated as the the difference between current price and average exercise price, times number of options, divided by market cap. Be your own judges.

Symbol	Date	 Shares at FYE	Price	Mcap	         Options     Ex. Price	Dilution ratio
YHOO	12/31/98  199,019,000	$236.94	$47,155,064,313	 52,849,000	$22.99	24%
MSFT	6/30/98	 2,470,000,000	$108.38	$267,686,250,000 446,000,000	$23.87	14%
CSCO	7/25/98	 1,562,582,000	$97.75	$152,742,390,500 215,652,000	$25.23	10%
TROW	12/31/98 120,183,266	$34.25	$4,116,276,861	 22,640,569	$16.41	10%
INTC	12/26/98 3,315,000,000	$118.25	$391,998,750,000 312,500,000	$18.13	8%
GPS	1/30/99	 664,997,475	$64.19	$42,684,525,427	 64,838,690	$17.53	7%
PFE	12/31/98 1,407,000,000	$125.00	$175,875,000,000 83,204,000	$45.96	4%
AXP	12/31/98 450,468,000	$102.50	$46,172,970,000	 25,553,000	$64.46	2%
SGP	12/31/98 1,470,000,000	$55.25	$81,217,500,000	 42,000,000	$19.31	2%
KO	12/31/98 2,466,000,000	$67.00	$165,222,000,000 80,000,000	$42.77	1%

Elan