These are off the radar for most of Wall Street, but I think they are more likely than people expect: 1) Oil approaching $200. It might not hit it, but I think there's a higher than expected chance it gets to $180-200. 2) S&P collapsing to 1000 or close to it, as the economy performs even worse than expected. 3) A major blue-chip financial going bankrupt. These might not happen, but I would say they're worth a punt, because the payoff will be huge if they happen and they aren't as unlikely as the market is currently pricing in.