In the same spirit as this question: [Trading a synthetic replication of the VIX index][1].

The [VVIX][2] tracks the volatility of the VIX.

One cannot directly buy and sell the VVIX index and, as opposed to VIX, there are no futures or options to trade it.

Is it possible to synthetically replicate the VVIX index using VIX options and futures (or other tradable instruments)?


  [1]: http://quant.stackexchange.com/questions/139/trading-a-synthetic-replication-of-the-vix-index
  [2]: http://www.cboe.com/micro/vvix/default.aspx