News release strategy/ (watching charts with eyeballs is not necessarily a hedge...)

Just because something is hedged doesn't mean it has to equal zero. It can be so that it just limits your losses (and gains, unfortunately).

If options prices increase due to volatility, then wouldn't that cancel out because you're selling one and buying one if you're holding a spread?

 

There's a song for that. Sorry Baron, heh.

 

Man, go learn some options basics first.