Burry’s Scion Asset Administration stated in a regulatory submitting in mid-Might it had put choices on 800,100 Tesla shares as of the tip of the primary quarter. Particulars on the strike value of the places, their worth and whether or not they have been a part of a broader commerce weren’t obtainable.
Primarily based on Tesla’s closing value of $667.93 on the finish of the primary quarter, the worth of that many shares would have been about $534 million. The precise worth of the choices place was not recognized.
Put choices give traders the proper to promote shares at a sure value sooner or later.
Choices analysts stated at the moment it was attainable the places disclosed within the submitting may be half of a bigger commerce that might curb losses if the put place went in opposition to the fund.
“No, it was a commerce,” Burry was quoted as saying in an electronic mail to CNBC on Friday, when requested whether or not he was nonetheless shorting Tesla.
“Media actually inflated the worth of this stuff. I used to be by no means brief tens or lots of of thousands and thousands of any of this stuff by way of choices, as was reported. The choices bets have been extraordinarily uneven, and the media was off by orders of magnitude,” Burry instructed CNBC.
One of many traders profiled within the e-book “The Huge Quick” and the movie of the identical title for betting greater than $1 billion in opposition to the U.S. housing bubble, Burry has beforehand been skeptical of Tesla’s sky-high valuations.
Tesla and Scion Asset Administration didn’t instantly reply to Reuters requests for remark.
Shares in Tesla rose marginally after the bell on Friday.