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Nvidia Corporation (NASDAQ:NVDA) shares hit all-time highs Monday, continuing the impressive multi-year run of going from a $1 trillion company to a company worth over $3 trillion.
Many Nvidia employees and investors have been rejoicing in the stock gains over the last year and one of the big winners is a member of Congress.
What Happened: Former House Speaker Nancy Pelosi and her husband, venture capitalist Paul Pelosi are among the investors who have been adding Nvidia stock and options to their investment portfolios over the last year.
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As a member of Congress, Nancy Pelosi has to disclose the trades made by herself and her husband. In a Dec. 23, 2023 disclosure, the former Speaker of the House reported a purchase made before the Christmas holiday.
The purchase was made on Nov. 22, 2023, for 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.
Fast forward to today and the options have changed after Nvidia conducted a 10-for-1 split in June 2024.
The options contracts owned by the Pelosis are now 500 call options with a $12 strike price and an expiration date of Dec. 20, 2024.
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On Monday, these $12 call options traded at $132.05, valuing the Pelosis' position at $6,602,500. Based on the estimated cost basis of $1.8 million, the Pelosis are now up $4.8 million on this trade from last November.