However, one of the building blocks of long-term successful options trading is to limit your cashoutlay as much as possible while still giving yourself a chance for profits.
The immediate cashoutlay for September 11 was just few hundred thousand dollars, and the material damage in New York alone is in the billions, and of course that doesn't include suffering and death.
While traditionally one would trade bonds to make such bets, by entering into either side of an interest rate swap agreement, you would gain immediate exposure to interest rate movements with virtually no initial cashoutlay.