Michael Burry Buys Nvidia Calls as a Hedge While Keeping His Short Position

TLDR

• Michael Burry added to his short position in Nvidia before Q2 earnings while also buying December call options as a hedge
• Burry describes Nvidia as “wildly undervalued on paper” but believes the stock’s real theoretical value is much lower than its market price
• He also added short positions in Oracle, Palantir, Nebius, and Caterpillar
• Nvidia reported adjusted EPS of $2.22, beating estimates of $2.09, with revenue up 106% to $96.2 billion
• Nvidia stock rose 7.2% in premarket trading after the earnings beat

Michael Burry, the investor known for his role in The Big Short, made a two-sided move on Nvidia ahead of its Q2 earnings. He added to his short position while also buying December call options, which he described as a hedge rather than a bullish bet.

BREAKING: Michael Burry has disclosed new positions.

He bought calls on Nvidia $NVDA as a hedge, adding that he still believes Nvidia will "not distribute enough to shareholders"

He also shorted more:

-Oracle $ORCL
-Palantir $PLTR
-Nebius $NBIS
-Caterpillar $CAT

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