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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 I´d dare to click on "Submit"?
