Vomma is an important concept when it comes to pricing options. Vomma is an important measure of the sensitivity of an option's price to changes in the implied volatility of the underlying asset. It is quantitatively important in the evaluation of advanced option trading strategies such as volatility trading, option pricing models, and hedging strategies.

Vomma is defined as the second partial derivative of an option’s value with respect to the implied volatility. It is often referred to as “the vega of vega” or “the convexity of vega.” Vomma is an important measures for sophisticated options traders and is used in numerous scenarios for price risk management.

Vomma is used by investors to assess how their option positions may be impacted by changes in volatility. Due to the high degree of sensitivity of vega to volatility, the vomma of an option can provide important information about the risks of a particular option trade. For instance, traders can use vomma to determine the impact of an increase in volatility on the potential gains or losses of their trades. Thus, investors can use vomma to assess the risk profile of an option.

In conclusion, Vomma is an important measure for options traders and is used to gauge how their options may be impacted by changes in volatility. Vomma helps investors to assess the risk profile of their option trades and provides insight into the potential gains or losses that can be expected from the trade. Therefore, knowledge of vomma is a critical part of any successful options trading strategy.