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Trader Calls Trump’s Hormuz Threat “NACHO,” Gas Hits $4 per gallon

5/3/2026

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Summary

Story summary

A Wall Street trader coined the nickname “NACHO” (“Not A Chance Hormuz Opens”) to mock President Donald Trump’s repeated threats to close the Strait of Hormuz.
Trump’s decision to keep the strait closed halted about 20 percent of global crude flow and pushed gasoline prices to $4 per gallon nationwide.
White House spokesperson Kush Desai dismissed the nickname, saying the president’s approach is “called negotiation” rather than “chickening out.”

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Story summary

A Wall Street trader coined the nickname “NACHO” (“Not A Chance Hormuz Opens”) to mock President Donald Trump’s repeated threats to close the Strait of Hormuz.
Trump’s decision to keep the strait closed halted about 20 percent of global crude flow and pushed gasoline prices to $4 per gallon nationwide.
White House spokesperson Kush Desai dismissed the nickname, saying the president’s approach is “called negotiation” rather than “chickening out.”