Nancy Pelosi's Bold Move: Reinvesting in Nvidia Call Options Despite Prior Losses
Nancy Pelosi, the 52nd Speaker of the US House of Representatives, has reportedly purchased $5 million worth of $NVIDIA(NVDA.US$ call options. The Pelosis announced in July 2022 that they had sold 25,000 shares of Nvidia at an average price of $165.05, incurring a loss of $341,365. With Nvidia shares up over 227% this year, Nancy Pelosi is back in on the stock, buying 50 call options with a strike price of $120. The expiration date for the call options is December 20, 2024. Pelosi appears to utilize a LEAP option approach that involves acquiring low-cost exposure to select large-cap tech stocks via in-the-money contracts that will expire within 12-to-18 months.
The timing of the disclosure has raised suspicions. The trade was revealed intentionally on the Friday before Christmas weekend when media coverage was low, making it difficult for the news to gain traction. Such a deceptive tactic has fueled concerns about potential conflicts of interest and raised eyebrows.
$NVIDIA(NVDA.US$ shares fell by 0.33% on last Friday, closing at $488.30. Its options trading volume is 0.92 million and call contracts account for 58.7% of the whole trading volume. Nvidia could be one of many chip companies to soon receive subsidies and tax credits from the Biden administration through the CHIPS and Science Act, which includes $52 billion in stimulus for the industry to bolster American production in competition with Chinese technology.
Pelosi's trades have been scrutinized for their suspicious timing and the possibility that her husband may have acted on insider information. Paul Pelosi had reportedly purchased up to $5 million in Nvidia stock in June of 2022, which was a month before a Senate vote on the subsidy bill. The controversy surrounding these trades has led to growing demands to prohibit members of Congress and their spouses from trading. Critics have focused on Pelosi regarding potential Congressional corruption, with one proposed bill named after her - the 'PELOSI Act' - aimed at addressing this issue.
Source: Unusual Whales, Barchart, Benzinga
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73298315 : Nvdia will get all the love from US politicians because they just raised millions of dollars to support Israel war against Palestine
amiable Llama_6295 : Har!
104014301 : Hii
ur wifes boyfriend : she has 5 million to invest in call options? how in the hell does she have that much money?
Lu Loh : It's best not to believe this kind of news. Last time Tesla revealed that lawmakers were buying options, I lost money afterwards
Jerry Picazo : it's never going to change these thieves make the rules
Violets ur wifes boyfriend: dude she's got billions
Chris Moore45 : more 300,000 million but still a good bit of money.
Violets : trap
ur wifes boyfriend : she is the fuckin goat!
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