Key Takeaways
- • New LEAPS purchases on Intel and Uber (May 29, 2026): Nancy Pelosi disclosed call options totaling $1.5–$6 million across two positions—200 Intel calls at $50 strike (expiring March 19, 2027) and 200 Uber calls at $50 strike (same expiration)—marking her first disclosed trades in five months.
- • Intel outperformance drives timing: Intel stock is up 237.9% year-to-date in 2026, positioning the Pelosi position in a significantly appreciating asset, while Uber shares are down 15.4% for the same period.
- • Strategic shift to long-dated options over stock ownership: Pelosi's filing activity demonstrates a continued preference for LEAPS (Long-term Equity Anticipation Securities) rather than direct equity ownership, a pattern consistent with her broader trading methodology.
- • Reduced 2026 trading volume: Year-to-date transactions total $8.88 million in 2026, down sharply from $48.6 million in 2025, reflecting a more selective approach to new positions.
- • Bitcoin ETF call skew reaches 12-month high: Options market pricing shows elevated implied volatility skew in Bitcoin-linked call options, indicating institutional positioning ahead of potential volatility events.
Summary
Nancy Pelosi disclosed new options positions in Intel and Uber Technologies on May 29, 2026, marking her first disclosed trades since January 2026. The filings reveal purchase of 200 call options in Intel with a $50 strike price expiring March 19, 2027, valued between $1 million and $5 million, and 200 call options in Uber with an identical $50 strike and expiration date, valued between $500,000 and $1 million. Both trades employ in-the-money strike pricing—a hallmark of the long-term options strategy favored by venture capitalist Paul Pelosi, her husband, whose investment decisions drive the household's disclosed trading activity.
The timing of the Intel position aligns with significant asset appreciation. Intel shares have appreciated 237.9% year-to-date through August 2026, positioning the Pelosi household's new long call position to benefit substantially from continued upside momentum. The Uber position, by contrast, enters a challenged environment with the stock down 15.4% year-to-date, suggesting a contrarian bullish thesis or potential hedging rationale.
Pelosi's trading pattern continues to favor LEAPS—Long-term Equity Anticipation Securities—over traditional equity ownership, reflecting a sophisticated options-based exposure strategy rather than direct stock accumulation. This approach allows leveraged participation in underlying asset appreciation while limiting capital deployment and managing tax implications.
Year-to-date transaction volume through Pelosi's household remains elevated but substantially reduced from 2025 levels. Total 2026 transactions amount to $8.88 million, compared to $48.6 million in 2025, indicating a more selective and deliberate approach to new positions. Separately, options market data shows Bitcoin ETF call skew has reached a 12-month high, reflecting elevated institutional demand for upside participation in cryptocurrency-linked instruments.
The timing of the Intel position aligns with significant asset appreciation. Intel shares have appreciated 237.9% year-to-date through August 2026, positioning the Pelosi household's new long call position to benefit substantially from continued upside momentum. The Uber position, by contrast, enters a challenged environment with the stock down 15.4% year-to-date, suggesting a contrarian bullish thesis or potential hedging rationale.
Pelosi's trading pattern continues to favor LEAPS—Long-term Equity Anticipation Securities—over traditional equity ownership, reflecting a sophisticated options-based exposure strategy rather than direct stock accumulation. This approach allows leveraged participation in underlying asset appreciation while limiting capital deployment and managing tax implications.
Year-to-date transaction volume through Pelosi's household remains elevated but substantially reduced from 2025 levels. Total 2026 transactions amount to $8.88 million, compared to $48.6 million in 2025, indicating a more selective and deliberate approach to new positions. Separately, options market data shows Bitcoin ETF call skew has reached a 12-month high, reflecting elevated institutional demand for upside participation in cryptocurrency-linked instruments.
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