New Delhi, June 28 -- NEW YORK - Microsoft sits 31% below the peak it reached last October. Michael Burry, whose 2008 mortgage short made him the defining contrarian trade of that era, just bought call options on the stock that expire worthless unless it trades near $700 - 88% above where it closed on June 28 - by December 2028.

The bet, disclosed this week, consists of long-dated LEAP call options on Microsoft with a $700 strike price expiring December 15, 2028. Microsoft closed at $372.73 on June 28. The number of contracts held by Scion Asset Management has not been made public, because Scion deregistered with the Securities and Exchange Commission in November 2025 and no longer files the quarterly Form 13F reports that historically m...