Nah i covered those on the monday they came out with the bankruptcy deal, like last monday. I sold some stock against them but ended up taking a loss when they were trading like .56-.58 That stock reacted so wierd and when I realized it wasnt going to be an AIG or a FRE, I dumped them immediatly. F*** you GM P.S. I own a cadillac, and I'm getting all my maintenence now before all these dealerships go under. Take advantage of that warrenty if you got it.
Uhhh, nah, i'm staying pat. I went into the trade knowing I might lose it. That's why I went into the puts. Didn't know if the gov't would bail them out or not. I've got other trades to make up for the loss.
One thing I have learned is this, the next time you bet on a sure bankrupcty where the common will get screwed, go on longer dated options. The courts will deem the shares to be worthless. Once it does, you get a cash settlement on the options of 100x the strike price. That's insane. Happened to Lehman.