Option gamma and volatility skew change

[clarodina]

Have some qns about option gamma greek

1) Does dgammadvol measure how much gamma would change due to volatility skew change? Say the option spy 216 put dgammadvol is 1% and volaility skew shift up 3% does this saying gamma would change 1% due to the shifting up of volatility curve?

2) dgammadvol equivalent to shadow gamma?

 

[Martinghoul]

1) Zomma, eh? No, dgammadvol isn't directly related to skew, AFAIK. It assumes a parallel vol shift.

2) No, AFAIK.

EDIT: Obviously, I could very well be wrong about these.

 

[clarodina]

You saying dgammadvol measure how much gamma changes due to shift in volaility and not volatility skew change? Or dgammadvol measure gamma changes due to volatility change on the skew? What is the tool measuring how much gamma change due to skew change?

 

[Martinghoul]

You saying dgammadvol measure how much gamma changes due to shift in volaility and not volatility skew change? Or dgammadvol measure gamma changes due to volatility change on the skew? What is the tool measuring how much gamma change due to skew change?

Does this "tool" need a special name?

All these things are just exercises in arithmetic. I don't really see why they warrant special attention.