Did Burry Bail on His MU Short Already?

$Micron Technology (MU.US)$ Burry shorted MU shares around $1,052 instead of buying puts, saying the options were too expensive because of high implied volatility. That’s interesting — if he was truly convinced of a major crash, puts would have given him far more leverage and limited downside.

Instead he went with a direct short. Now the stock has already dropped sharply into the $900s and volatility has likely cooled, which usually makes puts cheaper. If he still believed in his thesis, this would have been the perfect time to add or switch to puts for bigger upside on further downside.

The fact that he chose shares at peak IV, and we haven’t heard anything since, makes me wonder if he simply took the quick profits and covered.

What do you think — did the options market talk him out of a bigger bet, or has he already moved on?

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