Recent reports say Michael Burry sold his December-expiring Nvidia put options but kept a short position in the company. TheStreet had earlier reported that he added to that short. The change is a reported shift in how he is betting against Nvidia—not proof of his exact current holdings or a signal that other investors should follow.
What changed in Burry’s Nvidia bet?
The Motley Fool reported on September 17, 2026, that Burry sold all of his Nvidia puts expiring in December while maintaining a short position in Nvidia. TheStreet had reported on August 5, 2026, that he added to the short at a reported price of $210.28. Those are outlet-reported trade details; the sources do not establish his precise position today.
The clearest primary record is older. Scion Asset Management’s Form 13F, filed with the U.S. Securities and Exchange Commission on November 3, 2025, reports holdings for the quarter ended September 30, 2025. It identifies Michael J. Burry as the firm’s CEO and signer. A 13F is a snapshot for a past reporting period, not a live account feed, so it cannot verify the later trades or establish Burry’s current exposure.
How puts and short positions differ
| Feature | Long put option | Short position |
|---|---|---|
| How it works | The buyer pays for the right, but not the obligation, to sell shares at a specified strike price by a specified date. The reports identify December-expiring puts, but do not establish Burry’s strikes or premiums. | An investor borrows shares and sells them, aiming to buy them back later at a lower price. The reported account does not establish all of Burry’s short-position terms. |
| Timing | An option has an expiry. If it expires without value, the buyer can lose the premium paid. | A short position does not have an option expiry, though its costs, risks, and terms depend on how it is held. |
| Risk | For a buyer, the maximum loss is generally the premium paid; the option’s value can also fall as time passes or market conditions change. | Losses can be theoretically unlimited if the share price rises, and borrowing costs or other requirements can apply. |
| What the reports establish about Burry | The Motley Fool reported that he sold all of the December-expiring Nvidia puts. Strike prices, premiums, and the trade’s result are not stated. | The Motley Fool reported that he maintained a short; TheStreet reported that he added to it. Exact current size and terms are not stated. |
These instruments can express a bearish view in different ways, but the headlines alone do not reveal the overall size, cost, timing, or outcome of Burry’s trades.
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Why the filing does not settle what he holds now
The SEC filing records a particular reporting period and cannot show what happened after September 30, 2025. The Washington Post noted that Burry’s positions may have changed after that date and that the form did not preclude other investments in the listed companies.
Scion’s filing summary reported a total information-table value of $1,381,198,076. That figure is not the amount of cash Burry risked and does not measure every possible exposure. The Washington Post’s account of the same filing put Scion’s Nvidia put exposure at $186.58 million and its Palantir put exposure at $912 million. Those are reported values associated with option positions—not premiums paid or current positions.
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What Burry’s reported thesis says—and does not say
TheStreet described Burry’s concerns about financing arrangements for AI infrastructure and assumptions used to depreciate computing equipment. These are arguments attributed to Burry, not established findings that Nvidia’s accounting is improper or that demand for its products is false. A critique of industry financing or asset lifetimes does not, on its own, establish what Nvidia shares will do.
The Washington Post quoted Burry’s October 30, 2025, post on X: “Sometimes, we see bubbles. Sometimes, there is something to do about it. Sometimes, the only winning move is not to play.” The quotation conveys his stated outlook; it does not verify the later trade details or predict an investment outcome.
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Why investors should pause before copying the trade
- The information is delayed or reported secondhand. The SEC filing is historical, while the later position changes come from news reports. Neither gives readers a real-time view of the full position.
- The trade’s terms are incomplete. The reports do not establish the puts’ strikes and premiums or all the details needed to assess the short’s size, costs, and risk.
- Different instruments have different downside. A long put and a short position do not behave alike, and a strategy that suits one investor’s circumstances may not suit another’s.
- A famous investor’s position is not a recommendation. Burry’s reported exposure does not reveal another investor’s goals, risk tolerance, investment horizon, or access to options.
The practical takeaway is to assess Nvidia and any potential investment on evidence relevant to your own decision, rather than treating Burry’s reported trades as a buy or sell signal.
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