### Comment:
I could see doing a back spread on VIX to hedge short vega risk. I'm not sure if it's optimal, but could be useful. You could also simply just buy one of the volatility ETFs to give you the negative delta you're looking for, but the back spread might be more capital efficient.  
  
 Honestly, if you're short vega and trying to hedge delta risk it's ideal to just sell put/put spreads or call/call spreads in the same underlying since it doesn't result in a BP reduction.

### REPLY:
But it’s gives a lot monies on tail event, yes I know, absolute degenerate gambling

### END.