Burry’s Scion Asset Management ended March with bearish puts against 800,100 Tesla shares, Bloomberg reported.
- Valued at $534 million, the puts give Scion the right to sell the carmaker shares at a set price over a timeframe.
- Tesla carved a record-high of $883.09 on January 26, before falling down 35% as of Monday’s close.
- With the downtrend of Tesla shares, an analyst said the puts have been profitable so far.
- The Tesla options are believed to have been amassed at a number of blows, some of which have probably already expired.
- Burry in December said Scion was short shares of Tesla, and called on CEO Elon Musk to sell shares to generate funding.
TSLA: Nasdaq is down 1.14% premarket.