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Originally Posted by tanstaafl14
While you're making money on HMC, you can really clean up by shorting the hell out of Garbage Motors (GM) stock or buying GM put options! 
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I was thinking of that pair Long HMC/short GM but GM is already at its low (actually bounced) and not quite sure exactly how much downside/how fast is left.
Also there are huge convertible bonds out there that are now trading at 70 implied vol, the delta hedging (overhang) is gonna keep it kinda range bound in the nearterm.
Judging from what coming down the pipe, they do look soft but its hard to tell what kinda crap theyre gonna pull when its such a historic and large company.
I gotta do more research first.....did you put on the trade?