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Berkshire's Warren Buffett is taking advantage of the volatility out there to sell put options on Burlington Northern (BNI)

Buffett sold 12/08 puts at an $80 strike price for $7.02 each on 1.3 million shares on 10/6.
Explanation of Responses:
1. The put options were written by National Indemnity Company (?NICO?), a subsidiary of OBH, Inc. (?OBH?). OBH is a subsidiary of Berkshire Hathaway Inc (BRK.A). As OBH and Berkshire are each in the chain of ownership of NICO, each of Berkshire and OBH may be deemed presently to both beneficially own and have a pecuniary interest in all securities of Burlington Northern presently owned by NICO. Warren E. Buffett, as the controlling stockholder of Berkshire, may be deemed presently to beneficially own, but only to the extent he has a pecuniary interest in, the Burlington Northern securities presently owned by NICO. Mr. Buffet disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.