Uh... why do you think think Buffett's options are exchange traded? I'm pretty sure he wrote them on his own terms and they're not. Which means no excess supply of profitable puts in the 2019 strike which blows up your argument. But even if Buffett's options are exchange traded, I doubt it would be a large enough "butterfly" to push the entire US stock market down far enough for him to lose. As during the tech bubble, the calls for Buffett's demise are short sighted and premature. No offense but I'd bet on him over you until you surpass him on the Forbes list.
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Uh... why do you think think Buffett's options are exchange traded? I'm pretty sure he wrote them on his own terms and they're not. Which means no excess supply of profitable puts in the 2019 strike which blows up your argument. But even if Buffett's options are exchange traded, I doubt it would be a large enough "butterfly" to push the entire US stock market down far enough for him to lose. As during the tech bubble, the calls for Buffett's demise are short sighted and premature. No offense but I'd bet on him over you until you surpass him on the Forbes list.