Short term this is toast. There may be a few runs to .07, .08, my reco is to sell on those runs, and buyback in lower.
Long term could be a life changer. Rack up enough 'free' trading shares and hold them for the endgame. Worst case they get wiped out, best case you make a killing.
But people who think JPM is going to buy out the WMI holding company this weekend or really at any point are smoking hashish imo.