"Big Short" Michael Burry Buys NVIDIA Call Options as "Hedge" While Adding to Short Positions

Burry disclosed on social platform Substack that he bought call options on NVIDIA expiring in December with a strike price in the mid-to-high $200 range, representing 3.5%-4% of the portfolio, ahead of NVIDIA's earnings report. He emphasized this was solely a "hedge against his short exposure" rather than a bullish bet. He believes NVIDIA's monopoly advantage is unsustainable and that AI capital expenditures will compress returns. His short positions in NVIDIA, Oracle, and other stocks currently exceed 21% of the portfolio.