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Former House Speaker Nancy Pelosi is among the most followed Congress members when it comes to disclosing trades.
That’s because her husband, venture capitalist Paul Pelosi, made a sizable profit from owning call options in Nvidia Corporation (NASDAQ:NVDA). After Nvidia reported first-quarter (Q1) results that beat expectations, the stock continued to reach new highs and add to their wealth.
In November 2023, Pelosi and her husband disclosed purchasing 50 call options in Nvidia with a $120 strike price and an expiration date of Dec. 20, 2024.
The disclosure listed the purchase price range of $1 million to $5 million. Unusual Whales pinned the purchase to a price of $1.8 million.
Nvidia shares traded between $476.90 and $503.35 on Nov. 22, 2023 when the purchase was made. The call options would have been purchased for around $360 each.
On Thursday, these call options opened for trading at $911.10. The 50 call options are now worth $4,555,500.
Based on the estimated purchase price of $1.8 million from Unusual Whales, the Pelosi’s are now up $2,755,500 on their Nvidia call options.
Related Link: Nancy Pelosi Has New Tech Stock Pick After Making More Than $1M On Nvidia: Here’s The Latest Purchase
Missed Profits?: While the Pelosis are now up over $2.7 million on their most recent Nvidia trade, they could be sitting on more profits if they hadn't sold shares back in July 2022.
The sale happened after a disclosure of buying Nvidia shares ahead of the CHIPS Act, set to benefit semiconductor stocks, drew scrutiny and increased attention.
In a filing, Pelosi reported selling 25,000 Nvidia shares at an average price point of $165.05. The total sale was valued at $4,126,250. The filing shows that the transaction was at a loss of $341,365.
Based on a price of $1,017.44 for Nvidia shares today, the 25,000 shares would be worth $25,436,000. This means the Pelosi's missed out on potential profits of $21,309,750 from their Nvidia sale in July 2022.
Pelosi does not share information on congressional activities with her husband, she says. Observers remain skeptical given the questionable timing of her disclosed trades.
Pelosi's annual salary falls between $174,000 and $197,000 as a senior member of Congress. When she served as Speaker of the House, her annual salary was $223,500.
An ETF to track the stock trading activity of Democrats in Congress called the Unusual Whales Subversive Democratic Trading ETF (BATS:NANC) bears the Representative's name in the stock ticker.
Increased calls to ban Congress members and their spouses from trading have also centered on Pelosi, a Democrat. One bill even uses her name as an acronym: the PELOSI Act.
NVDA Price Action: Nvidia shares are up 7% to $1,017.44 on Thursday at the time of writing — an all-time high. Shares of Nvidia are up over 230% in the last year.
Image: Shutterstock
