"This encouraged program traders to sell the futures and buy the actual shares."

But with the signing-bonus system teams have used, the actual share has averaged 70 percent.

In the last few minutes of trading, the program traders began to sell the futures and buy the actual shares.

The winner's actual share was $30,703 higher than the loser's share.

Cook, though, isn't really interested in exchanging the options for actual shares.

However, no actual shares were bought or sold: all trading was between the bucket shop and its clients.

Late yesterday, traders were actively buying the futures and selling the actual shares.

The actual share of the market varies by product from 45 percent to 65 percent of total sales.

So the company's primary listing truly is in New York, even though its actual shares do not trade there.

We can fill those in later, when I give you the actual share certs.