GM will stick around, they're not in as deep as ford. also their quality is improving massively, i just hope it's in time for people to realize this.
I recall around three to six months ago seeing absolutely insane put volume buying on GM for leaps and longer term contracts. In particular the Jan 08 puts from $20 all the way down to the whopping $2.50 strike. One position purchased in one block was worth nearly a $20 million debit. And actually if you do the math and look at the open interest on all of those Jan 08 puts, we are talking about speculation of tens and possibly hundreds of millions of dollars of GM tanking. You dont have to be a rocket scientist, nor have an MBA to realize that the numbers with GM dont add up. People with big phat wallets are obviously betting within the next 13 months for the shoe to drop.