Volume is going to be huge because its institutional selling. Many soverign and mutual funds are not allowed to hold non AAA stocks, they are anticipating the downgrade.
Out of GE @10 and covered. I expect it back to 7ish around April Expiry in case anyone wants my 2cents (doubtful). Shorting now.
You know what I find funny, is how everyone feared buying GE in the single digits yet now at $15+ people are running in to buy as much as they can. Makes no sense, I do not own GE but knew it was headed for the single digits back in 2008.