Michael Burry has bearish options against the S&P 500 and Nasdaq 100, with 93% of his portfolio betting against US stocks.
Observers speculate on a potential bullish run for Bitcoin, given the historical pattern.
New York’s financial streets are abuzz with a recent report from Reuters revealing that Michael Burry, renowned for his depiction in “The Big Short,” holds significant bearish options against the S&P 500 and Nasdaq 100. At the conclusion of Q2, Burry’s Scion Asset Management procured put options with notional values of $739 million and $886 million against Invesco QQQ Trust ETF and SPDR S&P 500 ETF, respectively.
Decoding Put Options
For those unacquainted, put options grant the right to vend shares at a specified price in the future and are usually procured to manifest a bearish stance. The exact cost Scion Asset Management paid for these puts remains undisclosed, as the regulatory mandate doesn’t require revealing options’ strikes, prices, or expirati

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