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

In the event you hedge every moment, you wouldn't realize the entire pnl on the much larger SD moves however you do seize the full pnl with the more compact intraday moves. Conversely, if You merely hedge when per day, you won't realize the complete pnl in the scaled-down intraday moves (like with your example) but you would probably in return noti