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

If you hedge every moment, you wouldn't know the total pnl from the much larger SD moves however you do capture the complete pnl from the lesser intraday moves. Conversely, if You simply hedge once a day, you won't realize the complete pnl with the smaller sized intraday moves (like in your illustration) but you'd probably in return understand the