Transition
VOLT™ Accelerate
Exit the position tax-aware, on a schedule.
A systematic unwind where option income generated alongside the position offsets the tax cost of the sales. Illustrative; tax outcomes are client-specific.
Illustrative example
low-basis founder stock → systematic diversification funded by option income
Drawn from a priced proposal, not an engagement. Indicative as of its run date.
The problem
The tax bill is the reason the position never gets sold. A client sitting on decades of low-basis gain looks at the one-shot liability and decides to keep the risk instead. The decision is not really about conviction in the company any more.
How it works
Set the glidepath
How fast the position comes down is a decision, not a default. Pace is set against the client’s tax picture, liquidity needs and tolerance for staying concentrated.
Generate income alongside it
Options written on the position produce premium income over the same period the shares are being sold.
Apply it against the tax cost
That income offsets the capital-gains cost of the scheduled sales, so the exit is funded rather than absorbed in a single taxable event.
What’s inside
Scheduled sell-down
The systematic unwind of the concentrated position.
Written option program
Premium income generated alongside the position.
Tax-aware sequencing
Pace and timing set against the client’s own tax picture.
Who it’s for
- Founders and early employees holding low-basis stock.
- Clients who have decided to diversify but stall on the tax bill.
- Advisors who need the exit to happen over years, not in one trade.
Common questions
Does the option income cover the whole tax bill?
It is designed to offset the tax cost of the scheduled sales. How much it actually offsets depends on realized premium, the pace of the sell-down, and the client’s own tax situation. The illustration is not a projection.
Is this tax advice?
No. Tax outcomes are client-specific and depend on basis, holding period, strike and expiry. Clients should consult their own tax professional.
How is it different from just selling over time?
The option program running alongside the sell-down is the difference. Without it, the client absorbs the full tax cost of each sale out of pocket.
Request a proposal on VOLT™ Accelerate.
Position-specific analysis and an executable proposal in days. For investment advisers — your client, your custodian, your portfolio.
Partner with us →Also in Transition
VOLT™ Diversify Now
Transition
Diversify now. Sell later, on the client’s own schedule.
VOLT™ Proxy EFR™
Transition
Diversify when issuer policy bars hedging the stock itself.
Elsewhere in the suite
Tax-Aware Equity Strategies
Protect & Monetize
Keep the position and the grants. Put the option book to work, tax-aware.
Box-Spread Borrowing
Financing
Borrow against portfolio margin capacity — managed so it does not become a margin problem.
Keep reading
Yayati Asset Management, LLC is a state-registered investment adviser. This material is for investment advisers only; it is illustrative, not an offer, and not tax or legal advice. Examples are drawn from priced proposals, not engagements; figures are indicative as of their run dates and tax outcomes are client-specific. Options involve substantial risk and are not suitable for all investors — read “Characteristics and Risks of Standardized Options.” “Zero cost” means zero net option premium; transaction costs and advisory fees are separate and disclosed. Hedges on correlated funds carry basis risk: fund and stock can diverge. Employee stock options are issuer-governed; monetization is subject to plan terms. Liquidity strategies involve margin and financing risk, and terms depend on the custodian. PLASMA™ is an investment technology platform operated by Yayati LLC; it is not an investment adviser.