Soros bought a put on 1,248,643 SPY units in the quarter
Possibly buried amid the Apple excitement is the fact that Soros Fund Management’s biggest position is a put on the S&P 500 ETF SPY -1.40% . Soros bought a put on 1,248,643 SPY units in the quarter. A put option gives the owner the right to sell a specific amount of an asset at a set price within a set time, and generally means the investor expects that asset will go down in price.
So yes, as Bullion Baron and Whalewisdom point out, Soros is making a huge bet on the S&P 500 SPX -1.42% going lower.