applicable stock price
Defined in 1 place of the United States Code.
For purposes of subparagraph (D), the term “applicable stock price” means, with respect to any stock for which an option has been granted—
(i) the closing price of such stock on the most recent day on which such stock was traded before the date on which such option was granted, or
(ii) the opening price of such stock on the day on which such option was granted, but only if such price is greater than 110 percent of the price determined under clause (i).
Source
- 1994–present26 U.S.C. § 1092Internal Revenue Code · Straddles · for purposes of this section