### Comment:
because the premium received was pennies. Like, selling a very far OTM option call for $0.02. The next strike may be trading at $0.01, potentially halving the profit if  they hedged.  
  
 Then also, recklessness also plays a part. If you win 100 times without hedging, why would you hedge the next time?

### REPLY:
This is where gambler's fallacy would have helped. 
  
 'I'm overdue to get screwed this time.  Better hedge.'

### END.