Speaker Pelosi reportedly buys over $1 million in call options after defending Congress being allowed to trade

Speaker Pelosi reportedly buys over $1 million in call options after defending Congress being allowed to trade

Democratic majority leader Nancy Pelosi and her husband purchased a million dollars worth of call options for certain stocks.

This purchase comes days after Pelosi insisted publicly that members of Congress should be allowed to trade individual stocks despite often having access to insider information.

According to the New York Post, Pelosi purchased call options for stocks that included Google, Salesforce, Roblox, and Disney. The call options totaled over $1 million, which were reported by Congresstrading.com,

“We’re a free-market economy,” Pelosi said in a press conference. Members of Congress “should be able to participate in that.”

Her deputy chief of staff, Drew Hammill, said in a statement, “The Speaker does not own any stocks. As you can see from the required disclosures, with which the Speaker fully cooperates, these transactions are marked ‘SP’ for Spouse. The Speaker has no prior or subsequent involvement in any transactions.”

Speaker Pelosi’s husband, Paul Pelosi, runs a real estate and venture capital investment and consulting firm. Based on December’s calls, Pelosi believes tech stocks will continue to rise over the next year.

Some have commented on them taking advantage of the current momentum. Critics argue congressmen should not be able to trade individual stocks but only invest in broader funds.

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