Posted BY: Zero Hedge
Oh, look: Nancy Pelosi is pushing legislation that stands to benefit her significantly thanks to a couple of brand new, multi-million dollar trades she has made.
Stop us if you’ve heard this one before…
This past week it hit the terminal that House Speaker Pelosi was doing a little portfolio re-jiggering, including exercising $8 million of call options in Nvidia and selling Apple and Visa calls. The data was per CongressTrading.com and was reported on by Bloomberg.
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The Nvidia LEAPS was bought June 3, 2021, with $100 strikes, set to expire June 17, 2022, and the position appeared to be disclosed on Thursday morning for the first time. $8 million trades seem a little odd for members of Congress, to begin with, but who are we to judge?
But then, what did Speaker Pelosi do just hours after disclosing the trade, on Friday? She threw her weight behind a stalled $50 billion CHIPS PLUS bill that “would provide $52 billion in funding for semiconductor manufacturing grants and investment tax credits for the chip industry,” according to RollCall.com.