Burry Bets Big on Put Options as Market Concerns Mount

Hedge fund titan Michael Burry, famed for his early prediction of the 2008 financial crisis, is taking action against perceived market bubbles with a bold move through his Scion Asset Management firm. Recent filings reveal the fund has allocated a significant portion, 80% to be precise, to put options on tech giants Nvidia and Palantir. Specifically, Scion has purchased $912 million worth of put options on Palantir, equivalent to 5 million shares, while placing a $186 million value on their Nvidia put option contracts. This strategy highlights Burry’s proactive approach to potential market volatility.