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Welcome to Twenty-First Securities’ Interactive Guide to Hedging Low-Basis Stock.  When a stock achieves its investment expectations, investors sometimes believe that their only options are to sell it and pay a capital gains tax or continue to hold it and watch it rise or fall. In fact, there are other choices available to take a few chips off the table without triggering tax or giving up ownership. The decision tree summarizes the various forms of low-basis stock holdings and the hedges that are appropriate in each situation. The articles discuss these issues in greater detail.

Relevant Articles:

	Hedging Low-Basis Stock
	Hedging Basics
	The 21st Solutions to Hedging Low-Basis Stock
	Swaps for Pre-1984 Stock
	One-Instrument Collars for Post-1983 Stock
	Protection for Restricted Holdings
	FSA Takes Hard Line On Capitalization
	Hedging Nonqualified Stock Options
	Protecting “Synthetic” Equity Positions
	Protecting Passive Investments in Collective Vehicles
	Going Forward (Variable Forward TAM)
	The Hedging Product of Choice
	Considered Responses: Hedging ISO Stock
	No-Action Letter Says Insiders Can Collar Options
	.

	Strategies For Hedging Concentrated Stock Positions (Part 1)
	Strategies For Hedging Concentrated Stock Positions (Part 2)
	Strategies For Hedging Concentrated Stock Positions (Part 3)
	Hedging Your Employee Stock Options (Part 1)
	Hedging Your Employee Stock Options (Part 2)
	Hedging Your Employee Stock Options (Part 3)
	Hedging Your ISO Stock
	.