# What makes a realized vol estimate "tradeable"?

I'm trying to understand what makes a realized volatility estimate tradeable.

Quoting from an abstract "I define an estimate as "tradable" if it is attainable from a static position in options a dynamic trading of the underlying." An example of a tradeable estimate is giving by this presentation here http://www.cboe.com/rmc/2015/CBOE-Bruno-2015.pdf

I do not understand what makes this tradable.

• I think he's just saying that of you can estimate vol in terms of things that can be traded. He then adds the additional stipulation that the option position is static, as while a dynamic portfolio of options is perfectly tradable, it may become prohibitively expensive. If on the other hand the model required something like "the number of times trump appears in the press", then this is not directly tradable.
– will
May 22 '17 at 6:38
• Agreed, @will you should post this as an answer. May 22 '17 at 7:37