### Question
How does the law define lowest qualified bench mark?


### Answer
Under *26 U.S.C. § 1092*, **lowest qualified bench mark** is defined as:

> the highest available strike price which is less than the applicable stock price

#### Citation:
  - *26 U.S.C. § 1092*
  - Heading: **Subtitle A-Income Taxes > CHAPTER 1-NORMAL TAXES AND SURTAXES > Subchapter O-Gain or Loss on Disposition of Property > PART VII-WASH SALES; STRADDLES**

