Agree that the OP was silly, <em>but</em> there's no reason VIX can't continue lower rather than go higher.
don't buy the overbought market then... your original post was about selling puts and investing like buffet, not buying bonds. So now it's buying bonds as collateral? don't be coy and try to bury your original, ill conceived insight; you are trying to express a bear market view (the view itself is not necessarily unreasonable) using the worst possible trade and try to make yourself sound like a genius by name dropping. Pathetic. There are other ways to earn T+some rounding error without creating an idiot structured note for yourself like you proposed.
tarder um, the only person on ET possibly more ignorant than crgarcia with regards to anything related to finance.
I assume it doesn't need to be said that selling puts "like Buffet" involves getting no-margin terms from the banks, which is impossible for the e'trader crowd...
If the markets go up...? This isn't necessarily an endorsement of OP's idea, but as far as I know when selling puts, the ideal scenario is for the underlying's price to continue appreciating. However, you may feel like an idiot for not being able to take advantage of that upward moving price with all your money tied up with LEAPs