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To: Taikun who wrote (53842)9/29/2004 11:44:45 PM
From: rz  Respond to of 74559
 
>> In a really bad selloff the counterparties to the index puts might default anyway <<
Unless you are talking about over-the-counter options, your counter-party is the exchange where the option is traded. If the exchange defaults, we can all go to hell.