Subject: Re: Long-dated calls
I've used this logic before and sometimes it works

It just did work. On 26./27.March I sold Jan15´$27 $490 puts for $34.90 and $480´s for $35.85. I just bought them back for 18% respectively 31% less. Not intended but as I said "not too shabby".

(The intention was to accept both alternative outcomes: Either simply income from the premium or buying Berkshire shares for an acceptable price. But the opportunity presented today was just too good not to use it to instead choose that 3rd option.)