Michael Burry, the money manager made famous in the book and film “The Big Short,” held bearish options against the broad S&P 500 and Nasdaq 100 Index at the end of the second quarter, according to securities fillings released on Monday. Burry’s Scion Asset Management bought put options with a notional value of $739 million against the popular Invesco QQQ Trust ETF (QQQ.O) during the quarter, and separate put options with a notional value of $886 million against the SPDR S&P 500 ETF (SPY.P). Put options convey the right to sell shares at a fixed price in the future and are typically bought to express a bearish or defensive view. AI will be at the center of the next financial crisis, SEC chair warns #michaelburry #bigshort #thebigshort #stockmarket #stockmarketcrash #stockstobuy
TOPICS AND TIMESTAMPS:
Big Short Michael Burry 0:00
Getting Ahead 6:48
Cracks Emerge 11:04
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