all in what? selling puts? you have to understand that this is like a biotech stock awaiting a decision on a drug approval. june 1 comes and gm files for bk then the common is worth 0.
further the common is trading at these elevated levels because it is not shortable. if it were...
it may rally the day gm declares but i am thinking that the reality of the sugical bankruptcy of chrysler and gm will be smash and it will take awhile to work out. this could weigh on the market.