Writing option on one's own default

Maybe this is a weird question, but suppose that, for some reason, one would like to write an (implicit) option whose payoff is indexed on the writer's CDS spread. I would like to know what would be a "fair" premium to charge for this option, knowing that there's no concrete hedging strategy available to the writer (which would require selling protection against its own default) ? Of course the term "fair" is quite vague and is actually part of my question.