If you go short Gamma, then your goal is to earn the time consumption. Delta hedging helps you to protect the position from being damaged by underlying movement, there are no news about it: if you short Gamma and IV drops towards expiration, your Delta hedging will make money (I'm not considering bid-ask spread and transaction fees). Now consider a long Gamma position, like a simple long straddle: if the underlying moves far away from the strike(s), you start earning. Here is the so called 'let Gamma run' technique, which is nothing more complex than to not cover the Delta. Here is my question: if you correctly predicted the IV movement, what is better? I mean: let the IV starts rising after you opened that long straddle. In your opinion is it better to cover the Delta with the usual frequency or to let the Gamma works? In the first scenario (Delta hedging), you will probably benefit of a P&L which rises but with no slope; in the second scenario (Gamma run) there's nothing to say: your position will behave like a long/short on the underlying if the underlying continues its trend. Obviously some of you will probably tell me that they will let the Gamma work until some threshold, then cover the Delta... but my question is about extreme examples. What do you think?