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A comment on Michael Burry, of Big Short fame, just bet $1.6B on a stock market crash. Parent comment

Re:Michael Burry, of Big Short fame, just bet $1.6B on a sto... by hdjfkfbfbr on Wednesday August 16, 2023 @03:48AM (#37143959)
He has bought options... This is just a contract with a nominal fee attached to buy or sell an instrument at a pre determined price at a point in the future. The fee a small amount compared to the price of the share. So yeah he has tied up a small amount of capital to do this.
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Re:Michael Burry, of Big Short fame, just bet $1.6B on a sto... by YeBanKo on Wednesday August 16, 2023 @04:59PM (#37153746)
We don’t really know how much he tied up in this transaction. Depends on strike price and expiration date.
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