I'm looking to go long on Volatility, but would like to know if anyone knows of a calc of how to optimize a position so my vega is optimus prime when I'm expecting a move of x magnitude? This is via long options only though, cannot short.

Nope. It won't work. When the tertiary integral of time gets to 5 orders of magnitude, after gamma converges (path-independance lags), the hysteresis will explode. Too dangerous for me. I'm staying out of it.

3rd integral of time is time travel. I don't believe for a second you can master the shart while sneezing to effect time travel.

1) Your question was sufficiently answered. 2) You could post your question at wilmott.com if you want to get "input" from other math-nerds.

I realize it was answered after I posted that.. lol I've been involved with options for a while, just not this in depth (the 2nd order greeks, etc). So I really don't know what -skew means, and sticky delta, hence I've been on google researching these terms. Can you link me to a good site to learn this type of stuff?

http://en.wikipedia.org/wiki/Volatility_smile http://www.wilmott.com/messageview.cfm?catid=38&threadid=64784