HiFor payout options like OT/DNT..., they all have a extremely high gamma when spot is close to trigger.Gamma is so huge that we can't make dynamic delta hedge. The most often way trader may adopted is long / short european option to lower the gamma risk..but if the trigger being triggered, trader will have to unwind these hedge porfolio .The hedge strategy brings some cost, but we never count that while pricing payout optionsIs that means we underestimate or overestimate the price of payout option ?Could someone give me some trading ideas and also on pricing these options?