# Michael Burry Cuts 25% of Chip ETF Puts, Keeps a Very Large Position By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/50717 Published: 2026-11-07T09:19:13.000Z Updated: 2026-11-07T09:19:13.000Z Section: Investing > Burry retained puts on the Nasdaq-100, Palantir, Oracle and Caterpillar and increased his MercadoLibre position after earnings. Investor Michael Burry said Nov. 5 he cut his put position on VanEck Semiconductor ETF (SMH) by 25%, describing his remaining contracts as “very large” while retaining other bearish options positions. His other remaining puts cover Palantir, Oracle, Caterpillar and the Nasdaq-100. The reduction follows [Burry’s October repositioning into Nasdaq-100 and SMH puts](), when he shifted most of his bearish exposure into those trades. A put lets its holder sell an asset at a fixed price before the contract expires. Burry has used the contracts for bearish bets on the chip ETF and Nasdaq-100. The mix pairs a semiconductor fund with puts on individual companies and a broader stock index. Burry also increased his long position in MercadoLibre, buying shares below $1,500 after the company reported earnings. That share purchase added a stock position to the same update in which he reduced part of his bearish SMH exposure. ## Links in this article - [Burry’s October repositioning into Nasdaq-100 and SMH puts](https://www.tokenpost.com/news/investing/32910)