is GE a buy or sell?

I do agree that the US govt won't let GE fail. Too many defense contracts, etc. But, I wouldn't buy GE now. There are plenty of better ways to make money. If you already bought it, depends on if you want a tax write-off for a loss when you sell.
Real question is: What is GS's recommendation? If they say Buy, then you should sell.

 

That put was probably not a bet on ge going down and more like insurance to protect some nice gains. The stock has run up from 10 dollars in recent months, and from just under 6 since the march lows. It ran past seventeen, thats a huge run. Now If someone made a huge "bet" on a 12 dollar put then I think that would be more of a speculation on ge going lower.

 

Or, perhaps buy, then sell a week later.

 

Yep, that's the strategy.