Paul Pelosi - the husband of former House Speaker Nancy Pelosi (D-CA) - has been caught making some more controversial stock moves. 

The Daily Caller reports:

Former Speaker of the House Nancy Pelosi’s husband bought stock options in semiconductor company Nvidia even as the Biden administration looks to hand out subsidies to boost the industry.

The details

Unusual_Whales first reported Paul Pelosi's stock purchase on Friday.

Unusual_Whales, in an X message, revealed:

BREAKING: Nancy Pelosi and her husband have purchased up to $5 million of Nvidia, $NVDA, call options with a strike price of $120 and expiration date of 12/20/24. You read that right. They purchased leveraged bets over a company they legislate.

The group obtained the details about the stock purchase from financial disclosures. The disclosures can be found here.

The Daily Caller fills in the blank about why this stock purchase is particularly unseemly.

Insider trading?

The Daily Caller explains that Paul Pelosi's stock purchase comes at a time when the Biden administration could decide to give significant money to Nvidia.

The outlet reports:

Nvidia, a top American semiconductor manufacturer, could be one of many chip companies to soon receive subsidies and tax credits from the Biden administration through the CHIPS and Science Act, which includes $52 billion in stimulus for the industry to bolster American production in competition with Chinese technology.

It appears, in fact, that the Biden administration is pushing for Nvidia to lead the way.

Reuters recently reported:

The Biden administration is in discussions with Nvidia Corp (NVDA.O) about permissible sales of artificial intelligence chips to China but emphasized that it cannot sell its most advanced semiconductors to Chinese firms. U.S. Commerce Secretary Gina Raimondo, speaking in an interview with Reuters on Monday, said Nvidia "can, will, and should sell AI chips to China because most AI chips will be for commercial applications."

Background

Many members of Congress, in recent years, have faced significant scrutiny over their stock purchases. Pelosi and her husband are among those who have faced the most scrutiny.

Over the years, Pelosi and her husband have made millions off of the stock market, and many have argued that the Pelosis' stock success rate is too high to be a coincidence.

The implication, of course, is that Pelosi and other members of Congress have used their insider knowledge to cash in.

The Daily Caller reports:

Paul Pelosi made a previous purchase in June 2022 of up to $5 million in Nvidia stock the month before a Senate vote on the subsidy bill. Ethics expert Craig Holman expressed concern that the convenient timing of the trade “raises the specter” that Pelosi could have access to insider information.