Any good anagrams for volatility swap?

In finance, a volatility swap is a forward contract on the future realised volatility of a given underlying asset. Volatility swaps allow investors to trade the volatility of an asset directly, much as they would trade a price index. Its payoff at expiration is equal to ( σ realised − K vol ) N vol {\displaystyle (\sigma _{\text{realised}}-K_{\text{vol}})N_{\text{vol}}} where:

more on Definitions.net »