PumpkinHead,
not sure about the options against the S&P, but he has made around $20m with the Puts on Burlington Northern Santa Fe.
Although he made small profit with the put sales, he still has at least 15% of paper loss with this BNI shares acquired. In this market environment its expected, longer term is his focus on these trades. With 22% now of outstanding shares in the hands of Berkshire, who knows if he plans to take it private or not.
