http://www.cboe.com/AboutCBOE/ShowDocument.aspx?DIR=ACNews&FILE=20060111.doc VIX options are coming on Feb 24. Anyone care to comment on the application of the Greeks to these options? Seems like launching a product that needs is priced on volatility which is also a measure of volatility might cause some kind of cosmic rift or something. How did anyone find a model to price these things? Will there be any risk management issues that are unusual for this product that do not apply to normal option?