No. of Recommendations: 1
I intend to (and already did) copy Jim a little who once said his CAGR with BRK since around 2000 is 24.x% (that's how I remember it: probably not too far off) by using leverage: Buying calls when PeakPB/Price is low, puts when it's high, based on his observation that the typical range is 1.2-1.55 (just once in 20 years much lower than 1.2).
I've done very well buying and selling options on Berkshire, not as well as Jim but still very well. One thing I worry about with an options strategy is what happens when Buffett leaves the building for the last time. I think it's possible that the stock price (not IV!) stays subdued for an extended period of time which might make options less attractive for a couple of years, especially with a higher implied interest rate. So far I haven't changed my strategy at all but I'm thinking about being somewhat less agressive to be able to roll calls multiple times.
