Hello everybody,let's suppose you have a position on a Cap with a tarn feature (the cap will disappeared as soon as the total payoff you've paid/received - depending if you have sold or bought the cap - will reach a certain level); any idea about how to hedge it and the risk profile for this cap? It seems to me that there is something in common with a digital option risk profile, meaning that you are long/short vol up to a certain "point" , where gamma changes sign, but this point is not a predetermined strike level (as for a digi option) but it is the cumulative payoff..Any idea how to deal with this? Any suggestion really appreciated.Thanks.