Subject: Re: Can't belive I did that
2 questions:
Which puts did you buy?
How will you decide when to sell?

The first one I'd rather not answer : ) It's hard to find a "smart" pick.

When buying puts for profit, I normally sell half the position the first time they go into the money (that's when the time value is maximized), and the rest when I think the security has bottomed. Since Berkshire tracks the market so closely over short time frames I imagine I could use one of my "bottom detector" signals if it triggers before the option expires, or gut feel if not.

<later>
They ended the day up 12.3%.
Beer and pizza!

Jim