We’re bidding 20 cents g-t-c for 32 March 2.50 puts (GMOP), trying not to grow discouraged over GM’s weakness on a day when the broad averages soared. Let’s increase the bid to 0.28 — and I will continue to encourage you to raise it by a penny or two (or three, or four) above the market-maker bid at sporadic intervals throughout the day. Harass them like this for long enough, and they will find a way to get rid of us by filling our order. Concerning GM’s relentless slide, I don’t think They are quite ready to pull the plug on the company, and so we should expect at least one wicked short squeeze with the potential to drag the put options down to our niggardly bid. _______ UPDATE: We’ll put this trade aside for now, since GM has continued to sink and may never regain consciousness.