I thought I would start an Option replication journal, including some exotic option trades in FX and equity vol. Trades will focus on replicating intramarket-gamma in equity index and street volatility, as well as trading exotics in FX wtih truncated-payoff conventions. Only replication trades with the following conditions will be posted: *** Net +gamma[dgamma+] *** Net +vega *** Net +shadow-theta[convergence gains] RISKS: *** Correlation risk -- large in street vol, small in index vol. Will try to maintain -- +gamma/+vega position > position-correlation risk. The exotics will consist of truncated payoff position[TPP]; knockin/out combos, touches/no touches[combos/singles].