i doubt their calls provide any real hedge. They have 13,000 futures at a 1000x multiple and 40000 options at a 100x multiple. Seems better to do this on your own and get better tax treatment.
Maybe SVOL tread will go the same way as my BOXX Not so positive replies at first, but I believe BOXX became a popular ETF, at least for now. BOXX | Elite Trader