I saw this a couple days ago. I don't do calls and all that, how long are they usually good for? But he exercised it on the last day.
Nvidia (NVDA)
As a leading manufacturer of graphics cards, Nvidia shares have had a solid bull run over the past decade. But that rally came to an abrupt stop towards the end of 2021. In 2022, the stock has fallen about 47%.
Nvidia’s plunge is substantial even when compared to other beaten-down stocks in the semiconductor sector.
The business, though, is doing well, making the stock a particularly intriguing contrarian idea. The chipmaker generated $8.29 billion of revenue in its fiscal Q1.
On June 17, Paul Pelosi exercised 200 call options on Nvidia (that were expiring on June 17) at a strike price of $100, valued at between $1 million and $5 million.
The transaction comes at an interesting time. The Senate is expected to vote on a bipartisan competition bill that includes a $52 billion subsidy for domestic chipmakers. Voting could begin as early as Tuesday.