According to BlockBeats, Michael Burry, known for his role as the prototype for 'The Big Short,' is taking significant steps through his hedge fund, Scion Asset Management, in response to perceived market bubbles. Recent 13F filings reveal that the fund has allocated 80% of its positions to put options on Nvidia and Palantir. The nominal value of the Palantir put options amounts to $912 million, equivalent to 5 million shares, while the Nvidia put options have a nominal value of $186 million. Burry's actions indicate a strategic approach to potential market volatility.