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Options Boot Camp

Options Boot Camp

Options Boot Camp 401: That Magical Buffett Premium

Jul 29, 2026 · 37 min · 12 segments

The Warren Buffett conversation continues! After the response to our 400th episode, Mark Longo and Dan Passarelli head back to the mailbag to tackle even more listener questions about the Oracle of…

The Warren Buffett conversation continues! After the response to our 400th episode, Mark Longo and Dan Passarelli head back to the mailbag to tackle even more listener questions about the Oracle of Omaha and his approach to options. On this episode, we discuss: - Are covered calls compatible with Buffett's buy-and-hold philosophy? - Would Buffett ever use LEAPS instead of buying stock? - Is "getting paid to wait" really the same thing as selling option premium? - Does Buffett care about implied volatility when selling options? - How might Buffett use options once he owns a stock he plans to hold forever? - The unusual economics behind some of Buffett's legendary long-term put trades - Why the "magical Buffett premium" may be something ordinary options traders can only dream about - Plus, a trip deep into the Options Boot Camp archives

The Warren Buffett conversation continues! After the response to our 400th episode, Mark Longo and Dan Passarelli head back to the mailbag to tackle even more listener questions about the Oracle of…

Speakers: Mark LongoHostDan PassarelliHost

Show signals: SuitabilitySafeBiasNot politicalAudience≈29k followers

Spotify Apple Podcasts YouTube Amazon Music Website

Top entities: Warren Buffett×63 Billy Joel×3 Brian Overby×2 Coca-Cola×3 Wild Bill Hickok×2

Listener Mailbag – Buffett & Options4:09 – 28:14

M

4:09

All right, everybody, welcome to the mail call, the portion of the show where you folks take the reins.

M

4:14

Your questions, your comments, your insights, your pearls of wisdom.

M

4:19

And Dan, a lot of people apparently had a good time with, uh, OBC 400.

M

4:24

We got a lot of, lot of feedback, questions, comments, queries about that episode.

M

4:30

First up, UptownKid.

M

4:32

So is he the kid-

Dan PassarelliHost

4:33

[laughs]

M

4:33

... of, uh, Billy Joel and what's-her-face, Christie Brinkley? Is he, he's the kid of the uptown, Uptown Guy? Or Uptown Girl.

M

4:40

That's what I meant when I say Uptown Guy.

M

4:41

[laughs]

Dan PassarelliHost

4:42

[laughs]

M

4:42

M

4:43

So Uptown Girl had the Uptown Kid, and he's writing into the show, Dan, so we got some celebrities.

M

4:48

First we have you, descended from the, uh, Wild Bill Hickok Wild West Show.

Dan PassarelliHost

4:53

[laughs]

M

4:53

And now we got Uptown Kid.

M

4:54

We got all sorts of half celebrities coming in on the show this week.

M

4:59

[laughs] I haven't even been doing any day drinking, honestly, listeners.

M

5:02

All right, let's go to Uptown Kid.

Dan PassarelliHost

5:03

Yep.

M

5:03

He says, "I j- I just gotta say, I really," oh, in all caps, "I really enjoyed the 400 episode about Buffett.

M

5:12

400 episodes and you guys are still bringing it.

M

5:14

Keep it up." Well, Dan, we're still bringing it 400 episodes in.

M

5:18

What do you think, sir?

Dan PassarelliHost

5:20

Uh, yeah.

Warren BuffettPersonAmerican investor and former CEO of Berkshire Hathaway
98%63 mentions
Billy JoelPersonAmerican singer-songwriter and pianist
95%3 mentions
Brian OverbyPersonAuthor
92%2 mentions
Coca-ColaProductCarbonated soft drinks
89%3 mentions
Wild Bill HickokPersonAmerican soldier
86%2 mentions
Annie OakleyPersonMarkswoman
83%2 mentions
Ally FinancialCompanyFinancial services company
80%3 mentions
Google PlayEntity
77%2 mentions
Federal Reserve SystemGovernment OrganizationCentral bank
73%2 mentions
iTunesSoftware ApplicationMedia player
70%2 mentions
Wild West showEntity
67%2 mentions
iPod ShuffleProduct ModelMP3 player
64%2 mentions
CNBCCompanyTelevision producer
61%2 mentions
Online chatEntity
58%1 mention
Uptown GirlMusic CompositionSong by Billy Joel
55%3 mentions
Christie BrinkleyPersonAmerican model
52%2 mentions
Matt HorwichPersonAmerican mixed martial artist
48%2 mentions
Artificial intelligenceEntityProfessional field
45%1 mention
Dance MonkeyMusic CompositionSong by Tones and I
42%2 mentions
AppleCompanyTechnology company
39%2 mentions
Malcolm GladwellPersonBritish-Canadian journalist and author
36%1 mention
FacebookSoftware ApplicationSocial networking service
33%2 mentions
Berkshire HathawayCompanyHolding company
30%1 mention
YouTubeWebsiteVideo sharing company
27%1 mention
SpotifyCompanyCompany
23%2 mentions
RobinhoodCompanyFinancial services company
20%1 mention
GE CapitalCompanyFinancial services company
17%1 mention
ThinkorswimCompanyBank
14%1 mention
GreeksEntity
11%2 mentions
GameStopCompanyElectronics retail company
8%1 mention
Charles Schwab CorporationCompanyFinancial services company
5%1 mention
NetflixEntityTelevision broadcaster
2%1 mention

Options StrategiesFinance > Investing > Options Trading
Options TradingFinance > Investing
InvestingFinance
Warren BuffettFinance > Investing > Options Trading
Warren BuffettCelebrities
Finance
Celebrities
Investment StrategiesFinance > Investing > Options Trading > Warren Buffett
Covered CallsFinance > Investing > Options Trading > Options Strategies
Long-Term InvestingFinance > Investing > Options Trading
LEAPSFinance > Investing > Options Trading > Long-Term Investing
Market PsychologyFinance > Investing > Options Trading
Implied VolatilityFinance > Investing > Options Trading > Market Psychology
Investment PhilosophyCelebrities > Warren Buffett
Value InvestingCelebrities > Warren Buffett > Investment Philosophy
Long-Term HoldingCelebrities > Warren Buffett > Investment Philosophy > Value Investing

Listener Mailbag – Buffett & Options4:09 – 28:14

M

4:09

All right, everybody, welcome to the mail call, the portion of the show where you folks take the reins.

M

4:14

Your questions, your comments, your insights, your pearls of wisdom.

M

4:19

And Dan, a lot of people apparently had a good time with, uh, OBC 400.

M

4:24

We got a lot of, lot of feedback, questions, comments, queries about that episode.

M

4:30

First up, UptownKid.

M

4:32

So is he the kid-

Dan PassarelliHost

4:33

[laughs]

M

4:33

... of, uh, Billy Joel and what's-her-face, Christie Brinkley? Is he, he's the kid of the uptown, Uptown Guy? Or Uptown Girl.

M

4:40

That's what I meant when I say Uptown Guy.

M

4:41

[laughs]

Dan PassarelliHost

4:42

[laughs]

M

4:42

M

4:43

So Uptown Girl had the Uptown Kid, and he's writing into the show, Dan, so we got some celebrities.

M

4:48

First we have you, descended from the, uh, Wild Bill Hickok Wild West Show.

Dan PassarelliHost

4:53

[laughs]

M

4:53

And now we got Uptown Kid.

M

4:54

We got all sorts of half celebrities coming in on the show this week.

M

4:59

[laughs] I haven't even been doing any day drinking, honestly, listeners.

M

5:02

All right, let's go to Uptown Kid.

Dan PassarelliHost

5:03

Yep.

M

5:03

He says, "I j- I just gotta say, I really," oh, in all caps, "I really enjoyed the 400 episode about Buffett.

M

5:12

400 episodes and you guys are still bringing it.

M

5:14

Keep it up." Well, Dan, we're still bringing it 400 episodes in.

M

5:18

What do you think, sir?

Dan PassarelliHost

5:20

Uh, yeah.

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