The big short christian bale12/5/2023 The filing with the Securities and Exchange Commission did not reveal the set price of the puts nor their expiration date. Investors profit from puts – a bearish option – when the underlying stock price falls. This gives Scion the right to sell Tesla shares at a set price on or before a specified date. Mr Burry’s firm, Scion Asset Management, said in a regulatory filing that it owned 800,100 Tesla shares as of March 31 with a total value of $US534 million ($A688 million) and bet against them by taking out a puts option. Michael Burry, who shot to fame for predicting and profiting off the 2008 subprime mortgage crisis, a move which was made into the star studded film The Big Short, has revealed a more than half-a-billion-dollar bet against Elon Musk’s Tesla.
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