The layman isn't going to understand or spot the nuance or esoteric concept. It's the nature of things. He literally doesn't know what exposures are causing his wins and losses. Does it matter? Not until your knowledge level exceeds that of the individual that you're paying for advice.
In D1 it doesn't matter. Risk-adjusted returns are all you should be worried about.
The NVDA spread worked because the vol isn't going to drop pre-report. There is very little risk to the position because gamma is overwhelmed (locally) by "synthetic" time (vol). Practitioners will look at the straddle price as implied move in the underlying, post-earnings. That price will remain relatively stable and perhaps rise, even though theta is negative, because there is an assumption of a large move, post report. That assumption isn't going to change over a few days prior to the report.
Look at the 250 straddle. Shares at 250. If the combo is trading at $12 on day one and $12 on day seven with shares at 250--the vol has to have rallied. Time has passed yet the straddle hasn't decayed and your delta position is unch.
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