U.S. House Speaker Nancy Pelosi’s husband may be be positioning himself to profit from the ongoing rise in the share prices of some of America’s biggest companies.
Paul Pelosi, the California Democrat’s spouse, bought call options that give him the right, but not the obligation, to purchase shares in Google parent Alphabet, Inc.
memory-chip company Micron Technology Inc.
and Walt Disney Corp.
at prices that are upwards of 45% below their closing trading levels on the days in which he made the transactions, according to a periodic transaction report filed with the government.
Federal law requires members of Congress to file reports within 45 days after they or their spouses purchase or sale of securities exceeding $1,000, along with a rough estimate of how much the transactions were worth.
Pelosi purchased between $500,000 and $1 million worth of call options in Alphabet stock with a strike price of $2,000 and an expiration date of Sept. 16, 2022, about 30% below the closing price of the stock on Dec. 17, 2021, the day of the transaction, according to FactSet. He bought between $250,000 and $500,000 in call options in Micron shares with a strike price of $50 and an identical expiration date, about 45% below the closing price on Dec. 21, the day of the transaction.