Got a buddy with Verizon iPhone 4 running 4.2.8 which he fucked up and since I'm the resident iPhone "expert" it's up to me to figure out. wtf?!
We only have shsh blobs for 4.2.10 and 5.0.1.
Googling, I only see references to tethered 4.2.10 jailbreaks with Redsn0w and nothing for 5.0.1..
Do I have this right or is there an untethered jailbreak I'm unaware of.

Thanks for any help

As of today there is an untethered jailbreak for iOS 5.0.1 on both GSM and CDMA iPhone 4 devices (and 3G/3GS/iPad1). iPad 2, 4S and 4th gen iPods will need to wait.

Grab the latest redsn0w (0.9.10b1 as of my post) and you can untether 5.0.1