Jake,

If puts and calls open Pandora's Box, unless a safe remedy can be found, I would ban them...

You illustrate why I included the "if"!  I have repeatedly called for a requirement of "insurable interest in CDSs and extending it to puts and calls should be obvious, but it wasn't to me at the time I wrote the comment.  Thanks.


"It is not necessary to have hope in order to persevere."