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Rep. Nancy Pelosi — Washington's most famous stock picker and the congresswoman representing California's 11th district — has now trained her eyes on chipmaker Intel (INTC). According to a recent disclosure, Pelosi's household reportedly bought 10,000 shares of INTC stock on July 24, with a total value ranging from $500,000 and $1 million. Notably, Pelosi also purchased 50 call options on the company with a strike price of $50, expiring on June 17, 2027. This was interesting, as long-term options like what Pelosi purchased suffer less from theta decay or a loss in value due to the passing of time.
Thus, it can be inferred that even if the stock loses value, Pelosi is of the belief that Intel can recover in about a year's time when she can get the stock at as cheap a rate as $50. Further, the $50 strike price gives Pelosi the scope for additional upside if the stock price appreciates.
