Put options have a time limit. So being early means you loose the money you used to buy the put.

So yeah it is the same thing.

And Michael Burry was a lucky mother effer that he managed to keep his put on all the way until it finally happened.

Or as today they would describe as it diamond hands.

It is rare to have both the conviction to bet everything and also be right at the same time.

Diamond hands are for holding perpetual assets not expiring options. For reasons I explained above.

Rather unfortunate that in that movie scene the speaker of that sage piece of advice was cast as the one who was hysterically panicking and its recipient as the calm, reasonable one.