Step 1: In a large deep saucepan, melt butter, sugar, corn syrup, and water. Stir over medium heat until mixture comes to a rolling boil (meaning there are bubbles all across the surface rather than one or two here and there).
Step 2: Turn off the heat immediately stir in baking soda quickly. As mixture becomes a bit foamy, stir over popcorn until well coated. Spread popcorn out onto greased wax paper to cool and sprinkle with salt while still warm and not fully set. Store any leftovers in a very well sealed container.
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