Prior to the start of Apple’s Worldwide Development Conference (WWDC) of 2022, Nancy Pelosi and her husband bought 150 Apple ($AAPL, NYSE) call options at an $80 strike price with 100 of those expiring on 3/17/2023 and 50 of them expiring on 6/16/2023 (you can read about call vs put options here)!
Pelosi, a Democrat, is currently serving as the Speaker of the United States House of Representatives out of California. Pelosi is one of the most notable Congresspeople whose trading portfolio often dwarfs the S&P 500 ($SPY, NYSEARCA).
During the first day of Apple’s WWDC, Apple announced many new features for its users, including an updated M2 computer chip for its new MacBook Air, a renovated Apple CarPlay, and edits to iMessage texts.
She also disclosed the purchase of Microsoft ($MSFT, NASDAQ) call options at a $180 strike price with an expiration date also on 6/16/2023.
Both democrats and republicans insider trade, giving them an unfair advantage over the retail trader and disrupting policy-making decisions. You can track politicians’ trades here on the Unusual Whales website.
Price Action: Shares of Apple were trading 0.10% higher on the day at a price of $145.53 to open the week at the time of publication
Microsoft shares were trading at $267.64, down 0.88% and $SPY was trading up 0.071%.