Simultaneous debt collapse and global de-dollarization: good luck timing this one.<p>Knowing that the markets are massively distorted and unsustainable gets you nothing. Knowing the next wave of irrational distortion gets you good long-term returns. Good timing is either pure luck, insider information, or outright manipulation.
The $ amount listed on 13F is NOT the premium value but rather the value of shares the position represents (100x multiplier)<p>Back out the 13F SPY value:
$886mm/2mm = ~$443<p>He owns 20k SPY puts (2mm/100) likely worth $10's of millions
Apparently he did this a while ago its just hitting the news now. As they say, its hard to time the market and it can remain illogical longer than you remain solvent. But hey I dont know verify what I say too.
The 13Fs are filed quarterly so there’s always a lag. AFAIK he spent 2% of the fund AUM on these so downside pretty capped, it’s an asymmetric bet on indices heading lower.<p>Anyone know what strike price / expiration date on the puts?
Overall, Burry / Scion bought 27 new stocks and sold 15 stocks when compared to their previous quarter's holdings[1]. This can be hard to see on the SEC.gov filing CNN directly links to since that only shows one quarter of holdings.<p>[1] <a href="https://last10k.com/sec-filings/1649339" rel="nofollow noreferrer">https://last10k.com/sec-filings/1649339</a>