Michael Burry, who rose to fame for his winning bets during the subprime crisis, loaded up on put options on the S&P 500 in the second quarter, a filing showed.
Michael Burry, the trader who rose to fame when his winning bets during the subprime crisis were featured in the book and movie “The Big Short,” loaded up during the second quarter on put options that would pay off if the S&P 500 and Nasdaq sank, a regulatory filing revealed Monday.
The... Michael Burry, the trader who rose to fame when his winning bets during the subprime crisis were featured in the book and movie “The Big Short,” loaded up during the second quarter on put options that would pay off if the S&P 500 and Nasdaq sank, a regulatory filing revealed Monday. The 13-F filing showed that Scion held 2 million put options on the SPDR S&P 500 ETF Trust SPY, which tracks the S&P 500, as of June 30. It also held 2 million puts on the popular Invesco QQQ Trust Series QQQ, which tracks the Nasdaq-100 NDX.
The SPY puts made up more than 51% of Scion’s reported holdings, according to Whalewisdom.com while the QQQ puts accounted for more than 42% as of June 30. But investors are required to disclose only long positions held at the end of a quarter, so the filing may not offer a complete picture.
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