DX 11 Multiple matrix projections

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DirectX

Hello everybody.
I am working on an aplication with directx powered viewport. Purpose of renderloop is to draw multiple images and connect points residing in them. (simple example http://www.leda-tutorial.org/en/unofficial/Pictures/MarriageProblem.png[^], there are thousands of connections in this app just to be clear) Each of these images have its own transformation (move, zoom) and you can although pan and zoom entire viewport. My question is, what would be the best approach - vertex-buffers-wise to achieve similar result.

My guesses are :
1. Single vertex buffer for every image with its own projection, another projection on top of it, and some sorf of index buffer to connect it together.
2. Single vertex buffer for all points and some indexation of which belong to which image - thus conecting with image transformations and then world transformations on top of it.
3. Creating new vertex buffer on each render loop. (most convenient but mindnumingly slow I guess)

Any help, whether pseudocode, actual example or theory, will be much appreciated.

Best regards, Peter