Michael Burry sells Nvidia put options amid portfolio de-risking

Michael Burry, the investor who became a household name for betting against the US housing market before the 2008 financial crisis, has sold his December 2026 put options on Nvidia entirely. The move is part of a broader portfolio trim that also saw him exit his near-term Palantir puts, though his overall bearish posture on AI stocks remains very much alive. The September 9 adjustment looks less like a change of heart and more like a chess player pulling a piece back to reposition. Burry still holds long-dated December 2027 puts on Palantir and the Nasdaq-100 (QQQ), and his short stock positions account for more than 21% of his portfolio even without counting put options. What Burry actually did, and what he didn’t Burry chose not to roll these near-term options into later-dated contracts, instead opting to free up capital. He’s described the move as a way of moderating exposure while keeping liquidity available to capitalize on what he anticipates will be an “interesting market this fall.” Nvidia remains a prominent short position in his portfolio, sitting alongside Oracle, Palantir, and Nebius. His largest long positions tell their own story about where he sees value. Lululemon a...