I'm trying to mimic a varswap using the listed strip for trading purposes. Anyone have a good rule of thumb to simulate a varswap position using the listed strip. It's impractical to trade the whole strip. Just trading the 20 delta option will give you a reasonable level for the vol but not for a tradable structure. What's a reasonable middle ground? For example, what if I sold the 10, 30, 50 70 delta (from the put side) options in the appropriate ratios? Or more simply just sold the 30 and 70 delta options on a ratio?