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

• 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 :

Michael Burry just shorted the market with $1.6B

Bought $890M of $SPY Puts
Bought $740M of $QQQ Puts

This now makes up 93% of his entire portfolio

Look out below. pic.twitter.com/jiOEYxpVra

— Michael Burry Stock Tracker (@burrytracker) August 14, 2023

Burry has now assumed a significant short stance against the S&P 500 (monitored via SPY) and the NASDAQ-100 Index (monitored via QQQ), as indicated by…

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