Player Two has tagged in!
Burry, one of the first investors to call and profit from the subprime mortgage crisis, is long puts against 800,100 shares of Tesla or $534 million by the end of the first quarter, according to the filing with the U.S. Securities and Exchange Commission.
How interesting! He threw in an option on an extra 100 shares on top of the 800,000. I doubt this was a capricious decision. Why would he do that?
Source: Michael Burry of ‘The Big Short’ reveals a $530 million bet against Tesla