"In Q3 2025, he did what many called the "Big Short 2.0". Shortly before Burry deregistered his Scion Asset Management (just like he closed Scion Capital in 2008), it reported $912 million in PLTR put options and $186.6 million in NVDA put options. He said that his "estimation of value in securities is not now, and has not been for some time, in sync with the markets,""
"Burry's AI bubble thesis is looking prescient on the Palantir side. PLTR stock is down 35% since he entered the trade , and he's not walking away from it. Just this week, Burry posted a technical chart on X identifying a head-and-shoulders pattern in Palantir's stock, capped by the $207 peak in November 2025. He believes this formation signals that PLTR could fall another 40% to 60% from current levels."
"He sees the next support level a little below $100, followed by a "landing area" slightly above $50. This is lower than the most bearish price target on PLTR stock at $70 right now. Considering his earlier stance on Palantir is now vindicated, a drop to the $50s no longer seems too unlikely. After all, you're still paying a triple-digit earnings premium for this company. Meanwhile, the broader software sector is being hammered."
Michael Burry established large put option positions in Q3 2025, including $912 million in Palantir (PLTR) puts and $186.6 million in Nvidia (NVDA) puts prior to deregistering Scion Asset Management. PLTR has fallen about 35% since his entry, and technical analysis identified a head-and-shoulders pattern from a $207 peak that he interprets as implying a further 40–60% decline, with support near $100 and a potential landing area slightly above $50. PLTR retains a high earnings premium while the broader software sector weakened, including a roughly 19% drop in the S&P Software & Services index over one month.
Read at 24/7 Wall St.
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