NEW YORK, Nov 14 (Reuters) – Hedge fund manager Michael Burry, whose bets against the U.S. housing market before the 2008 financial crisis were chronicled in the movie “The Big Short”, in the third quarter added a bearish options position on semiconductors, while some other investors also reduced their exposure to the sector, according to securities fillings released on Tuesday.
Burry also closed out bearish options against the broad S&P 500 and Nasdaq 100 Index, the filings showed.
His Scion Asset Management’s biggest new position last quarter was in bearish options on an exchange-traded fund focused on semiconductors. He bought put options with a notional value of $47.4 million against the iShares Semiconductor ETF (SOXX.O), according to the filing. The ETF is up 45.37% year to date.
Notional value refers to the total value of the underlying securities controlled by options…
