https://www.thestreet.com/investing/the-big-short-michael-burry-makes-big-bet-against-the-market
On Monday it was revealed that Burry held bearish bets against the S&P 500 and Nasdaq, according to securities filings released Monday, to the tune of over a billion dollars. Burry and his Scion Asset Management fund bought put options (contracts giving the option to sell at a certain price) with a value of $886 million against the SPDR S&P 500 ETF Trust which tracks the S&P 500. Scion also bought put options totaling $739 million against against the Invesco QQQ Trust ETF QQQ that tracks the Nasdaq 100. The $1.6 billion Scion spent betting against the market represents 93% of the fund's entire portfolio.
Leave a Reply