12/12/2023 0 Comments Is it smart to hedge sports bets![]() The S&P 500 fell 3.6% in the third quarter, while the Nasdaq 100 was down 3%. In the second quarter, Burry’s firm held put options with a notional value of $739 million against the popular Invesco QQQ Trust ETF QQQ.O and separate put options with a notional value of $886 million against the SPDR S&P 500 ETF SPY.P. The filings also showed that Burry's fund no longer held puts on the Nasdaq 100 and S&P 500. That is different from the price paid for the contracts or their actual present value, which while undisclosed in the regulatory filing, is likely to be a much smaller number. ![]() Notional value refers to the total value of the underlying securities controlled by options contracts. He bought put options with a notional value of $47.4 million against the iShares Semiconductor ETF SOXX.O, according to the filing. His Scion Asset Management’s biggest new position last quarter was in bearish options on an exchange-traded fund focused on semiconductors. ![]()
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