Second frolloos' comment.That looks interesting. Is there a technical paper on your valuation and risk mgt method or is it proprietary?Check out this post on consistent valuation and risk management of vol derivatives and vanilla options:What are the hedging methods for volatility swap (rather than variance swap)? What are the possibilities of setting up a static, semi-static or dynamic hedging?
https://www.linkedin.com/pulse/vola-dyn ... fomytskyi/