Burry Snaps Up More NVDA Puts, Doubts NFLX Evergreen Content

Investor Michael Burry, known for his role in 'The Big Short', has made some adjustments to his portfolio. He increased his position on Nvidia Corp (NVDA) by buying more December 2026 puts struck in the low $100s, citing high valuation and earnings risks over the next five years.

Burry stated that with volatility in NVDA stock minimal and the VIX holding steady, he bumped up the position. He also trimmed his Oracle Corp (ORCL) January 2027 put position by half after it became too large, but maintained some downside exposure.

However, Burry's skepticism doesn't end there. He questioned Netflix's ability to create evergreen content, comparing it unfavorably to Disney and Pixar. According to Burry, Netflix's long-term value depends on the strength of its content library, and he believes the company needs to fall into the low $50s for its stock to become closer to a 'Fat Pitch'.

Burry also added to his position in DraftKings Inc (DKNG) shares in the $25 range, stating that there was no change in his core investment thesis. He expects to write more about DKNG and Flutter Entertainment in the future.