The Nvidia LEAPS were 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.
Timeline of events:
7/23/21 – Buys $NVDA LEAPS3/28/22 – $52B CHIP act initially passes but stalls out
6/17/22 – Pelosi buys $5M worth of $NVDA stock
7/14/22 – Pelosi comes out saying the bill needs to get passed ASAP
— Nancy Pelosi Stock Tracker (@PelosiTracker_) July 15, 2022
h/t John Dutton