Subject: Re: 2026 Expected...
we are at a point that someone writing cash backed puts expiring a year from now would likely get either an attractive entry point

I never did or was interested in this, but if I am not mistaken with the simple way I see it, it indeed looks attractive, so please let me ask a dumb question: With BRK this moment at $482 and 1 year out puts with strike $480 fetching $25 it means: If called I effectively buy BRK for $455, right (minus the interest on the cash until called)?

What surprises me: I just tried at Schwab to put in a fake order to sell such puts. With my non-margin account and being option level 1 only I expected that to be refused with a message "Higher option level required" or so. Not so. Non-margin account and option level 1 really is enough --- or would the expected message appear if IŽd dare to click on "Submit"?