HOW MUCH YOU NEED TO EXPECT YOU'LL PAY FOR A GOOD PNL

In the event you hedge every single moment, you wouldn't recognize the full pnl of the bigger SD moves but you do capture the entire pnl of your lesser intraday moves. Conversely, if You merely hedge after daily, you won't understand the entire pnl from the lesser intraday moves (like in the case in point) but you would probably in return know the