Nancy and Paul Pelosi Snap Up Apple and Microsoft Options
The "Periodic Transaction Reports" from Speaker of the House Nancy Pelosi are absolute must-reads if you are somebody that is trying to make money in the markets. After all, Pelosi and her husband have shown an uncanny ability to get into options positions just before the underlying stocks start to rise.
In fact, some people have said that Pelosi and her husband are two of the best traders in the world.
Many people have said that the well-timed trades are unseemingly and that members of Congress shouldn't be able to trade stocks or options.
Pelosi disagrees.
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Anyways, earlier this week (signed on June 3rd, 2022), a new Periodic Transaction Report from Pelosi was released.
There were four separate transactions listed in the report - one taking place on May 13th, 2022, and the other three taking place on May 24th.
Pelosi's husband likes buying in-the-money calls (options) on stocks, and this time was no different.
The four positions were:
100 Apple $80 call options with an expiration of 3/17/23
50 Apple $80 call options with an expiration of 6/16/23
10 Microsoft $180 call options with an expiration of 6/16/23
40 Microsoft $180 call options with an expiration of 6/16/23
The four positions cost Nancy and her husband a couple million dollars, and they will increase in value if Apple and Microsoft continue to rise.
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The Microsoft position was entered into when the stock was trading at around $260 per share - now it's over $270.
The first Apple position is currently down (stock was $147 or so when Pelosi got in, now it's $140), while the second position is breakeven.
Filed under: Stock Market Education
