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

For those who hedge every single moment, you wouldn't realize the complete pnl with the more substantial SD moves however you do capture the full pnl from the smaller intraday moves. Conversely, if You merely hedge at the time each day, you won't understand the full pnl with the smaller sized intraday moves (like within your illustration) but you'd