Tracking Michael Burry's Palantir (PLTR) Put Options

Michael Burry's Fund Closure & Re-entry

• 💡 Michael Burry recently confirmed in a podcast with Michael Lewis that he closed his fund but immediately re-established all his positions for himself.
• 🎯 This clarifies why his Palantir (PLTR) put options initially appeared to be closed in previous 13F filings, causing market confusion.

Tracking PLTR Put Options

• 📊 SpotGamma's open interest data showed that 20,000 of the 50-strike PLTR puts, which Burry had identified, were closed on October 24th.
• 📈 Subsequently, on November 15th, SpotGamma data indicated that these positions were bought back, suggesting Burry re-entered the trade after closing his fund.
• 🔑 Burry's original bet involved 50,000 long-dated, far out-of-the-money 50-strike PLTR put options, anticipating Palantir's stock price would drop to $50 within two years.

SpotGamma Data Insights

• 🔬 SpotGamma utilizes proprietary "buy side OI" data to specifically track positions held by hedge funds, differentiating them from other market participants.
• ✅ This data helps identify where significant players like Burry are positioned in the market, cutting through general hedging activities.

Position Performance

• 💰 The closing of Burry's positions on October 24th likely drove down the put price to its lows.
• 🚀 He reportedly re-entered the trade around $2, and with the current price at $2.40-$2.45, he appears to be making a small profit on the re-established position.