Pelosi banks $1.4M in 90 days from Nvidia stock option trade, outraging watchers
investing.comLate last year, U.S. Representative Nancy Pelosi reported a transaction to purchase call options in NVIDIA Corporation (NASDAQ:NVDA). After a massive rally in the stock this year related to breathtaking AI uptake and the company's strong financial results, Pelosi is now said to be sitting on a significant windfall profit.
According to historical options data, Pelosi paid an estimated $380 per option contract in late November when she bought 50 December 20, 2024, 120 call options. Each option contract represents 100 shares of the underlying stock.
Those same options are now worth about $660 per option contract, suggesting an estimated gain of $1.4 million. When Pelosi made the trade known publicly in late December, it was disclosed she paid between $1 million and $5 million for the options.
Speaking to Investing.com, Chris Josephs, co-founder of Autopilot, a service that automates your portfolio by copying top-notch traders in real-time, explained that the NVDA buy «was one of the larger ranges.»
Joseph, who also runs the @PelosiTracker_ account on X (formerly Twitter), added that the option buy occurred on November 22, 2023. The stock is up 63% since then.
«From an ethical perspective, I believe it is extremely harmful for politicians to trade individual stocks,» argues Joseph. «There are numerous jobs out there that don't allow employees from trading, yet our most powerful [A]mericans can.»
«It creates distrust in society which inevitably erodes the longer-term trust in our institutions,» he adds. «They shouldn't be allowed to do it. We started Autopilot as the first way to automatically copy their trades as a way to bring more awareness to the cause.»
Elsewhere, Josephs stated there are «numerous other politicians who
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