Michael Burry, the ‘Big Short’, wagered $1.6 billion on a stock market meltdown.

Michael Burry, the “Big Short” investor who correctly predicted the 2008 housing market crisis, has staked almost $1.6 billion on a Wall Street crash.

Security Exchange Commission records released Monday show Burry betting against the S&P 500 and Nasdaq 100. 

Scion Asset Management, Burry's fund, bought $866 million in put options against an S&P 500 fund and $739 million on a Nasdaq 100 fund.

According to disclosures, Burry bets over 90% of his portfolio on a market drop.

Burry has fluctuated between positive and negative on his stock recommendations this year.

He tweeted a cryptic message to 1.4 million followers in January. “Sell,” he wrote. He retreated at March's end. “I was wrong to say sell.” wrote.

The S&P 500 and Nasdaq 100 have gained significantly this year. Almost 16% and 38%, respectively.

Burry was notable for betting against the housing market in the mid-2000s and profiting from the subprime lending crisis and 2008 financial catastrophe.

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