It is an illusion to think you can beat random noise. You need something that is non random to make money.
I didn't mean random in a pure meaning. Look what's happening around news/tweets ... It's not random, but it's still noise. So in the video, they are fading multiple day sell off on news/rumors. It is not unusual to see the stock pop 5-10% as short covering rally/squeeze or value buying. So, imho, the set up is valid, but how do you play it is the question. They are using 10% OTM options which seems to me are too far away. Their "hedging" isn't making sense to me either. It sounds like they are day trading the underlying on the short side and possibly keep it overnight to protect puts and scalp to offset time decay. Just not coherent to me (Obviously this is a free video so I don't expect them to share everything). I think the main difference between what I was trying to do and them is that it sounds to me that they do not mind being assigned on the puts at those prices ... They will either make money on the pop or they will be long the stock at a long term support levels. Given that they received credit, they have nothing to loose. I personally don't like the idea of selling puts with the idea of getting assigned. It sounds like "bad" trading even though it must have been a great strategy for the past ten years.
Therein lies your leap of faith. Utilize B to benefit from A. First, prove to me you can do A, before wasting my time talking about B.
I may be mistaken but for some reason I remember from reading the book a while back that they were playing tables which were not perfectly set up, so they were able exploit that. Like for example, the table had a slight tilt (sometimes even intentional).