short (long) 1500 common for every 1000 preferred long (short). See: Delta.Hedge wrapperAn optionsstrategy in which an investor with a long position in an underlyingstock buys an out-of-the-moneyput and sells an out-of-the-moneycall. The hedge wrapper defines a range where the stock will be sold at expiration of the option, which way the stock moves.Hedged portfolioA portfolio consisting of a long position in the stock and a long position in the put option on the stock, so as to be riskless and produce a return that equals the risk-free interest rate.Hedged tenderAn investor sells a portion of a stock holding short a tender offer in the event all shares tendered are not accepted. For example, investor Q has 5000 shares of XYZ. An acquiringcompany makes a tender offer of $100 a share when the shares are currently worth $80. Investor Q short-sells 2500 shares after the announcement and the price of the stock has approached $100. Company XYZ purchases only 2500 of the original shares at $100. Investor Q has sold all shares at $100 even as the price of the stock drops on a post-news dip.HedgieSlang for a hedge fund.HedgingA strategy designed to reduce investment risk using call options, put options, short-selling, or futures contracts. A hedge can help lock in profits. Its purpose is to reduce the volatility of a portfolio by reducing the risk of loss.Hedging demandsDemands for securities to hedge particular sources of consumption risk, beyond the usual mean-variance diversification motivation.Held at the openingUsed for listed equity securities. Not open for trading because specialists or regulators are not allowing trading to occur until imbalances dissipate or news is disseminated.Held orderOrder that must be executed without hesitation (Hit the bid or take the offer in line) or if the stock can be bought or sold at that price (held limit order) in sufficient quantity.Hell-or-high-water contractA contract that obligates a purchaser of a project's output to make cash payments to the project in all events, even if no product is offered for sale.Helsinki Exchanges (HEX)The Helsinki Exchanges (HEX Ltd., Helsinki Securities and Derivatives Exchange and Clearing House) was formed at the beginning of 1998 following the merger of the Helsinki Stock Exchange Ltd. and SOM Ltd., the Securities and Derivatives Exchange, and the Clearing House.Hemline theoryA theory that stock prices move in the same direction as the hemlines of women's dresses. For example, short skirts (1920s and 1960s) are symbolic of bullishmarkets and long skirts (1930s and 1940s) are symbolic of bearishmarkets.HermesThe tradefinanceagency for Germany.Herstatt riskThe risk of loss in foreign exchange trading that one party will deliver foreign exchange but the counterpartyfinancial_institution will fail to complete its end of the contract. This is also referred to as settlement risk.H-H pageQuotron display page that shows new listed inquiries/orders received after the block call.HIBORHong Kong Interbank Offer Rate, the annualized offer rate banks pay to attain Hong Kong three-month deposits in denominated dollars.Hidden loadA sales charge that is not explicitly disclosed or is buried in the fine print of a mutual fundprospectus or life insurance policy and therefore is not immediately apparent.Hidden