Subject: Re: Option strategy on Berkshire
" "If you think you've come up with a brilliant idea [for making risk-free money with options]... whatever you think you've discovered is not what it appears to be, and anything that has a slight shred of a chance of being real has already been discovered and exploited by folks way smarter than you at places like Blackrock and Goldman. This will save you lots of pain."


BINGO< but it's much worse if the option is illiquid, the spreads kill you and the experts trade against your limit orders. I wish a professional option trader joined us decades ago.