Everybody’s situation is different, but I think we are more likely to see further downside pressure. I have a full position in brk.b, and will only add long dated calls when the price is in the lowest 10% of it’s range. Then the longest dated call would be my preference. There is probably good money to be made from right here,but I have been too early too many times to not set up very strict buying criteria. I generally sell too soon as well. Buyer of gme at $7 ,seller at $40 At least it was quick.
Apart from the exceptional 0.93x (was in March 2020 I think) with at this moment 1.22x according to Jim’s table we are just 10% above of the lowest Berkshire was since 2003.
The bottom 10% of p/b ratio in the modern era is anything below 1.188 book,per Mungofitch. That would be 230.31x1.188=274.42. Almost there. As I said in the last post,the odds are with you now two to four years out. I won’t take action until $275. You may see a flat spell when premiums for the calls may settle down as well.
At least it was quick.