CatEputs (short for Catastrophe Equity Put Option) are derivative contracts that give the insured the right to sell new shares at a fixed price, which the investor promises to buy in the event of a catastrophe.

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That would still leave Kumho Asiana about 1.7 trillion won short of its obligations under the put option, according to CLSA, a broker.

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As with a short call, when you go short a put, you collect the premium on the option as a credit in your account.

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If you decide to spend a night in the city before launching onto the water, then the Woodcliff Hotel and Spa, a 20-minute drive east from downtown Rochester, is your best option as it is only a short drive to the town of Fairport, the put-in point for the kayaking part of your adventure.

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