Billion

Coin

<ul class="news-points"> 
 <li>Michael Burry shorted the stock market with $1.6 billion, acquiring $739 million QQQ and $886 million S&amp;P 500 put options.</li> 
 <li>Burry takes a bearish stance on S&amp;P 500, NASDAQ 100, attracting crypto interest.</li> 
 <li>Moreover, Burry’s portfolio shift: reduced banks, added $EXPE, $CHTR, $GNRC.</li> 
</ul> 
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&amp;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. 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter"> 
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 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
 BREAKING <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">: Michael Burry just shorted the market with $1.6B Bought $890M of <a href="https://twitter.com/search?q=%24SPY&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$SPY</a> Puts Bought $740M of <a href="https://twitter.com/search?q=%24QQQ&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$QQQ</a> Puts This now makes up 93% of his entire portfolio Look out below. <a href="https://t.co/jiOEYxpVra" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/jiOEYxpVra</a>— Michael Burry Stock Tracker 
 <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/265f.png" alt="♟" class="wp-smiley" style="height: 1em; max-height: 1em;"> (@burrytracker) <a href="https://twitter.com/burrytracker/status/1691121657526759424?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">August 14, 2023</a> 
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Burry has now assumed a significant short stance against the S&amp;P 500 (monitored via SPY) and the NASDAQ-100 Index (monitored via QQQ), as indicated by… 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/michael-burry-shorts-stock-market-with-1-6-billion-worth-put-options/">Michael Burry Shorts Stock Market With $1.6 Billion Worth Put Options</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

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

Coin Edition

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