Congress member Nancy Pelosi and her husband Paul Pelosi are no strangers to purchasing stocks and options while she has been in office. Here are the latest stocks being added to the Pelosi portfolio.
What Happened: Pelosi and her husband purchased options for Apple Inc AAPL and Microsoft Corporation MSFT. Here is a look at the options that were purchased, as reported by Congress Trading.
Apple $80 strike 03/17/23 expiration: bought 100 call options valued at $500,000 to $1,000,000
Apple $80 strike 06/16/23 expiration: bought 50 calls valued at $250,000 to $500,000
Microsoft $180 strike 06/16/23 expiration: bought 10 calls valued at $50,000 to $100,000
Microsoft $180 strike 06/16/23 expiration: bought 40 calls valued at $250,000 to $500,000
The first Apple call options were purchased on May 13 and the other three options listed above were purchased on May 24.
The total of the four purchases were valued at over $1 million.
Related Link: Does Lobbying Control Congress Member Stock Trading?
Why It’s Important: The options purchased by the Pelosis follows a pattern of buying stakes in technology companies and buying deep in the money leaps for the companies.
Apple shares trade at $148.32 and Microsoft shares trade at $273.88 at the time of writing. This puts the options purchased in the money and likely able to be exercisable between now and expiration in 2023.
The Pelosis have shown patience with many of their options, waiting to exercise them until the last possible day.
A large option stake in Tesla Inc TSLA was exercised by the Pelosis in March that could be worth $1 million to $5 million.
Pelosi is one of the most prominent and active investors in Congress. Unusual Whales tracks Pelosi and the transactions of other members of Congress, and named Pelosi one of the top 10 traders in Congress.
The large purchases come with increasing calls by members of Congress and the public to ban members of Congress and their spouses from trading while in office.
Photo: Courtesy of Gage Skidmore on Flickr
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