The recent Hard Fork 25 added the ability to convert Hive to HBD. This feature gives the community to help push down HBD when it gets over $1, but it comes at a cost, 5% to be precise.
When you convert Hive to HBD there is a 5% fee charged by the blockchain. When there is a situation like there is right now, where HBD is trading over $1.30, the 5% fee is insignificant.
The conversion does take place over 3 days you receive the HBD immediately and the remaining Hive collateral at the end. The delay is to prevent market manipulation. The 5% fee is essentially burned in the process creating a potential upward pressure on Hive and downward pressure on HBD.
There is no guarantee HBD will stay at $1.310 throughout the conversion, in fact it is almost guaranteed it won't. It may go up resulting in a higher yield or go down reducing the yield. As long as the median stays above $1.05 it is a profitable operation and provides a direct benefit to all stake holders.
I am not your mom, so I cannot give you financial advice, but I do recommend learning about the new Hive->HBD conversion feature and how it may potentially benefit you.
If you do decide to use this feature, make sure you understand the risks involved.