Read Scion's put-option filing correctly
The reported NVIDIA and Palantir values describe underlying shares, not the premiums paid for options.
Originally posted · Published here · 2 sources · Resume reading
Scion Asset Management's third-quarter 2025 information table lists put positions covering one million NVIDIA shares and five million Palantir shares. The corresponding reported values are $186.58 million and $912.1 million, totaling about $1.1 billion. [1]
What that value means
The SEC's Form 13F instructions require those option entries to describe the underlying securities. The total therefore does not establish that Scion paid $1.1 billion in option premiums. The original social caption's description of a billion-dollar bet needs that distinction. [2]
What the filing leaves out
The information table does not give the option strikes, expiration dates or purchase premiums. It also does not establish why the manager held each position. Reading a valuation-bubble argument into the rows would require another source.
A quarterly filing is a snapshot for its reporting period. It cannot tell you whether the same positions remain open today.
When a headline quotes a large options number, find the underlying filing and its reporting rules before interpreting the amount. This page explains the disclosure; it does not recommend a trade.
Keep this guide
Filed under Dev tools
Sources
- SEC Form 13F instructionssec.gov
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