George Soros Had A $1.3 Billion Bet That The Stock Market Would Go Down
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REUTERS/Bernadett Szabo
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Generally speaking, these revelations aren't taken too seriously as they are 45-day-old snapshots. But over the weekend, one gigantic $1.3 billion position raised some eyebrows.
Soros Fund Management disclosed that it held put options on 7,090,000 million shares of the SPDR S&P 500 ETF (SPY) at the end of Q4
Puts protect the holder of the option from declining prices. Soros' position makes money if $1.3 billion worth of the SPY declines in value.
And at $1.3 billion, this represents the largest position in the portfolio.
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At the end of Q3, the fund held just 2,794,100 of these options.
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