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

If you hedge each individual moment, You would not recognize the complete pnl on the more substantial SD moves but you do seize the full pnl from the smaller sized intraday moves. Conversely, if You merely hedge the moment a day, you won't understand the full pnl with the more compact intraday moves (like in the case in point) but you'll in return