Photo: CBS
Last week, US House Speaker Nancy Pelosi disclosed in a filing with the Clerk of the House of Representatives that her husband, Paul Pelosi, had purchased stock options in Apple (AAPL), Tesla (TSLA), and Disney (DIS), also buying shares from global investment firm Alliance Bernstein Holding (AB), as reported by Barron’s.
The shares and options, according to the filling, were purchased on December 22 by Paul, a businessman and private investor.
Nancy and Paul Pelosi did not immediately respond to requests for comment says Barron’s.
Paul Pelosi bought 100 call options for Apple stock.
A call option allows an investor to purchase shares at a predetermined price and for a set amount of time. Typically, one options contract covers 100 shares. The strike price, the purchase
— Stare Decisis (@MsResJudicata) January 25, 2021
price per share, on the options he bought is $100, and the options expire on Jan. 21, 2022.
He paid a total of between $250,001 and $500,000 for the Apple call options.
Specific values aren’t required for disclosure, only ranges.
— Stare Decisis (@MsResJudicata) January 25, 2021
While private investors do not have to report their stock market activity, all public officials are mandated to report financial transactions of over $1,000 from their spouses and dependent children within 30 days.
Paul Pelosi purchased 100 call options for Apple, 25 call options for Tesla, 100 call options for Disney, and roughly 20,000 shares from AB. He paid between $250,000 and $500,000 for his Apple call options, and between $500,001 and $1 million for his Tesla and Disney call options, as well as his AB shares.
In recent months, the internet has been in a frenzy following rumors of the Apple Car, expected to be brought to completion within the next decade. Apple’s stock has also risen gradually since the rumors arose, and the company’s shares are currently trading at $142.78, (+2.67%).
Under the new Biden administration, new green initiatives are set to favour electric vehicles, so the idea of Pelosi’s husband buying shares of Tesla, may seem like a conflict, say commentors online.
On Monday, shares of Tesla are up 2.94%, ahead of the company’s Q4 2020 earnings set for this week.
