i have used bands before to hold senkos and other worms for wacky rigging and what we used were o-rings i got from work. you just slide the o-ring over the worm and run the hook under the 0-ring instead of inserting it into the worm. i think they now sell them at BPS and a tool to slide them on the worm.
on the drop shot i have always used a polamar knot with a long tag end to attatch the weight. GL



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