Michael Burry Buys Nvidia Call Options Before Earnings, Keeps Short Bets on Nvidia, Oracle, Palantir, Nebius and Caterpillar

Michael Burry bought Nvidia call options expiring in December with strike prices in the mid-$200 range before the chipmaker reported earnings, and said the position was a hedge against the risk of his short and put options, according to Jiemian News. Burry said his theoretical valuation for Nvidia was well below its current market value. He also increased short positions in Nvidia, Oracle, Palantir, Nebius and Caterpillar, with his stock short exposure now above 21% of his portfolio, excluding put options. Burry argued that Nvidia's monopoly-like advantage may be difficult to sustain over the long term, which could pressure margins, while the company may also direct more cash toward capital spending and investment rather than returning enough to shareholders.