- Michael Burry shorted the stock market with $1.6 billion, acquiring $739 million QQQ and $886 million S&P 500 put options.
- Burry takes a bearish stance on S&P 500, NASDAQ 100, attracting crypto interest.
- Moreover, Burry’s portfolio shift: reduced banks, added $EXPE, $CHTR, $GNRC.
The “Big Short” star Michael Burry has reportedly shorted the market with $1.6 billion. On August 14, it was reported that Scion Asset Management, under Burry’s direction, acquired put options worth approximately $739 million for the Invesco QQQ Trust ETF and separate put options valued at around $886 million for the SPDR S&P 500 ETF. These put options enable the selling of shares at a predetermined price in the future and are commonly utilized to convey a negative outlook.
BREAKING