Editor’s note: This article was updated on March 3 to correct the expiration date for the referenced Roblox call options.
Yesterday, President Joe Biden delivered the 2022 State of the Union (SOTU) address. Several points were addressed, such as the Russia-Ukraine conflict, inflation and the coronavirus pandemic. Prior to the speech, Biden spoke with Ukrainian President Volodymr Zelensky on the phone, who asked Biden to deliver a “useful” message. In a surprising turn of events, both political parties applauded Biden when he announced his support for Ukraine. However, after the SOTU concluded, investors were quick to remember that House Speaker Nancy Pelosi is an avid trader. Last year, Pelosi gained notoriety for her profitable trades. On top of that, Pelosi’s husband is a venture capitalist who owns tens of millions of dollars in stocks. As a result, interest in Nancy Pelosi’s trades has been in high demand.
The Top Nancy Pelosi Stocks to Watch
According to House Stock Watcher, Pelosi has made 62 stock transactions since January of 2020, representing a trading volume of $63 million. A majority of these trades are involved with large-capitalization names. Furthermore, Pelosi made a series of purchases last December, according to the House of Representatives Clerk website. Here are four Nancy Pelosi stocks that were significant purchases:
- Alphabet (NASDAQ:GOOG) on Dec. 17. Pelosi purchased 10 call options with a strike price of $2000 and an expiration date of Sep. 16, 2022. The total value of the purchase was between $500,001 and $1,000,000.
- Disney (NYSE:DIS) on Dec. 17. Pelosi purchased 50 call options with a strike price of $130 and an expiration date of Sep. 16, 2022. The total value of the purchase was between $100,001 and $250,000.
- Roblox (NASDAQ:RBLX) on Dec. 20. Pelosi purchased 100 call options with a strike price of $100 and an expiration date of Jan. 20, 2023. The total value of the purchase was between $100,001 and $250,000.
- Micron (NASDAQ:MU) on Dec. 21. Pelosi purchased 100 call options with a strike price of $50 and an expiration date of Sep. 16, 2022. The total value of the purchase was between $100,001 and $250,000.
Congress Seeks to Ban Internal Trading
Retail investors may not be able to track Pelosi’s trades for much longer. That’s because Congress has proposed a plan that will ban members of Congress from trading individual stocks. Lawmakers have stated that members of Congress have an unfair advantage over retail traders. And rightfully so. Oftentimes, Congress has access to “classified briefings about national security issues, advance knowledge of regulatory actions, and nonpublic details about legislation, appropriations and tax policy.” Additionally, 54 members of Congress violated the STOCK Act Rules last year, according to Business Insider.
There are currently several propositions to address this issue. One proposition is for members of Congress to place their investments in a blind trust. The trust would be managed by an independent trustee who would place trades without the member’s knowledge. Another proposition seeks to go even further by outright banning ownership of stocks. Unfortunately, the new trading policy plan concerning Congress will likely be pushed back as lawmakers focus on the Russia-Ukraine conflict.
On the date of publication, Eddie Pan did not hold (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.