You can't use it for expected move... since VIX is always higher than am ATM IV, which is more suitable for something that relates to research to expectancy... since ATM IV determines the straddle values... As a risk measure, VIX would be better suited I guess. Although that also has it's flaws... since it will have a more or less fixed channel it moves in, especially the low.
I mean if you are short gamma you should expect your delta-hedges to lose money on average. The amount you should expect to lose is the premium established when the option(s) were sold. You will need to adjust your delta-hedges as the underlying moves. Each adjustment would normally lock in a loss if short gamma. Obviously not in every case but as a general rule. The inverse is true for long gamma.