Michael Burry Replaced Micron Shorts With June Puts Struck Around $500
AI Market Summary
Michael Burry replaced open-ended Micron shorts with deep out-of-the-money puts (roughly $500 strike) ahead of Micron's Sep 30 earnings, signaling increased downside convexity and tighter timing risk. He also added bearish exposure across AI-linked semis and Nasdaq while positioning in select equities, reinforcing concerns about an AI spending slowdown. Options markets show a strong bearish skew, potentially lifting near-term volatility and hedging demand around earnings.
Impact level
● Medium
Affected assets
NCSKMU2USD/USDT-0.30%
AI Insight · NCSKMU2USD/USDTAI Insight
▼ Bearish
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Michael Burry has replaced his open-ended short position in Micron with put options carrying a strike of roughly $500 that expire in June. Micron closed at $1,065.08 after a 1.05% gain in the Sept. 29, 2026 session, ahead of earnings due after the close on Sept. 30, 2026. The stock is up 273.41% year to date and 550.89% over the past year. Burry also added puts on several AI-linked names and the Nasdaq 100, covered his CoreWeave short, and opened a bearish position in MetLife.
