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In a regulatory filing, Burry's Scion Asset Management revealed last week that it bought put options for the SPDR S&P 500 ETF Trust and the Invesco QQQ Trust Series 1 ETF, which track respectively the S&P 500 and Nasdaq-100 indices. Scion's bet is worth a total $1.6 billion.
Michael Burry’s Scion Asset Management held puts with a total contract value of $886 million against SPDR S&P 500 ETF shares, and another $739 million against Invesco QQQ Trust ETF, Reuters reported citing securities filings.
Burry, who correctly called and profited from the subprime mortgage crisis of 2007- 08, recently warned retail investors about "the mother of all crashes"
Burry was depicted in The Big Short, the Oscar-winning movie based on Michael Lewis' book of the same name.
