Exercising 112,390 stock options, Tesla (NASDAQ:TSLA) chair Robyn Denholm sold the resulting shares on November 15, reaping almost $35 million as the stock jumped following Donald Trump's election victory. A regulatory disclosure claims the trades fit a trading strategy developed in July under Rule 10b5-1.

From shares sold at values ranging from $310.052 to $320.003, Denholm received around $32.5 million, minus exercise fees. Her direct holding in Tesla follows at 85,000 shares following the deals. Since Trump's election, Tesla's shares have dropped 38%; the firm should profit under his presidency. A prominent supporter of Trump, CEO Elon Musk has given over $130 million to his campaign and publicly expressed support on social media.

Musk has been selected to oversee a new government department emphasizing efficiency alongside businessman Vivek Ramaswamy. The surge by Tesla shows hope for possible legislative changes under the new government supporting electric cars.

This article first appeared on GuruFocus.