Nancy Pelosi Exercises Apple and Microsoft Stock Options
Representative Nancy Pelosi and her investor husband Paul invested millions of dollars worth of Apple (AAPL:US) and Microsoft (MSFT:US) stock on June 15, a day before the expiration of the options, according to the filings published today.
Pelosi exercised 50 call options purchased in May last year that include 5,000 Apple shares. The strike price is $80 with an expiration date of June 16, 2023, valuing the transaction at $400,000. On the same day, Pelosi exercised 50 call options for 5,000 Microsoft shares at a strike price of $180, making the transaction worth more than $935,000.
Based on Friday’s prices, purchased shares are worth over $2.6 million. Shares of both mega-cap tech stocks surged during the duration of the options contract. Apple stock rose to fresh record highs on Friday, valuing the business at $2.96 trillion. The stock is up almost 50% year-to-date.
Similarly, Microsoft benefited from the ongoing generative artificial intelligence (AI) frenzy that has been creating havoc on Wall Street. Shares are up more than 40% YTD as investors rushed to increase exposure to the company that invested billions in OpenAI, the developer of ChatGPT AI chatbot.
In April, Pelosi disclosed that she exercised 100 call options that included 10,000 AAPL shares at a strike price of $80. The transaction was valued at $800,000 with 10,000 AAPL shares valued at about $1.87 million on Friday, June 23.
