Investing.com - Financial Markets Worldwide
NVDA gained a massive 197% since our AI first added it in November - is it time to sell? 🤔Read more

Michael Burry Shorts Stock Market With $1.6 Billion Worth Put Options

Published 15/08/2023, 19:36
Michael Burry Shorts Stock Market With $1.6 Billion Worth Put Options
NDX
-
US500
-
QQQ
-
EXPE
-
CI
-
CVS
-
CHTR
-
GNRC
-
JD
-
BABA
-
SPY
-

  • 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.

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.