via Reuters
- Investor Michael Burry bought large positions in put options against the S&P500 and NASDAQ, betting that these indexes would decline.
- Although the notional value of these positions is $886M and $739M respectively, this reflects the total value of the underlying stock and not the price burry paid or potential gains and losses.
- The likely value of the options is less than approximately 10% of Burry’s AUM, approximately $230M as of September 30th.
