Michael Burry's Fund Takes Bearish Positions Against Nvidia and Palantir Through Put Options
By
selim17
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Summary
Michael Burry, the investor famous for predicting the 2008 housing market crash, has disclosed through 13-F filings that his fund Scion Asset Management purchased put options against Nvidia and Palantir stocks. The positions represent notional values of $187 million for Nvidia and $912 million for Palantir, indicating bearish bets on these high-flying AI stocks that have surged amid record AI enthusiasm. The filings don't reveal specific details like strike prices or expiration dates, but the move signals Burry's skepticism about current tech valuations.
Key quotes
· 4 pulledThe 13-F filing released Monday discloses that Burry's fund, Scion Asset Management, bought put options on roughly 5 million Palantir shares and 1 million Nvidia shares.
The notional value of the underlying shares was $912 million and $187 million, respectively.
The 13F filings do not reveal the salient details of the options contracts (each of which gives the holder the right to sell 100 shares) such as their strike price, expiry, or what was paid for them.
Burry's move follows a surge in both stocks amid record AI enthusiasm and rising tech valuations: Nvidia jumped 50% this year and crossed...
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