Credit: J. Scott Applewhite/AP
Nancy Pelosi and her husband Paul have exercised options worth millions of dollars in both Apple and Microsoft stocks a day before the both would have expired.
The pair purchased 5,000 shares each in both Apple and Microsoft stock a day before a call option expired. This equates to roughly $930,000 worth of Apple stock and $1.7 million of Microsoft stock at their current price.
In the time spanning the options contract, both companies share prices has jumped around 33%, with the combined value of the options increasing by about $600,000 in the elapsed year.
According to Forbes, prior to the transaction, Paul Pelosi held between $5 million and $25 million worth of Alphabet, Amazon, Apple, and Microsoft and shares, according to his wife's annual financial disclosure report.
In early June, just before Apple's WWDC opening keynote, shares in Apple got a boost from early trading to hit a record high.
That same month, analysts at investment firm Wedbush raised their Apple target price by $15 to $220 based on predictions of success for the Vision Pro headset, iPhone 15 range, and Apple Services.
