Lets say client is buying from you eurusd tarf strike 1,16 sell eur buy usd notional per fixing 500k usd leverage 2 first expiry 1 month from now, 12 fixings in total (monthly) full final payout
greeks: delta 4mio, gamma 400k, vega 18mio
How as a trader would you hedge it? My thoughts are something like - 1st. try to estimate highest probability date of ending ITM for client (lets say after first 5-6 fixings) and then try to hedge this exact date with static short vega option?