Michael Burry Reduces Bearish Position in Caterpillar After Put Options Gain Value
Investor Michael Burry has significantly reduced his short position on Caterpillar Inc. (CAT) by 75%. The move follows a substantial increase in the value of his put options, which reportedly quadrupled during the holding period. Burry communicated this adjustment via his Substack newsletter, Cassandra Unchained. This reduction suggests a tactical profit-taking maneuver rather than a fundamental shift in long-term outlook, as he locks in gains from the recent volatility or price movement in Caterpillar's stock.
Tickers: $CAT