This is probably a very easy question but I am new to the field and couldn't find an answer.
Assuming that I am building a hedged portfolio with a long option and going short delta on the underlying. Then, if I understood correctly tomorrow's value of the portfolio will be the same as today's. (Please correct if this is a wrong understanding.)
My question is: If tomorrow's value is the same as today's (and by extension the day after tomorrow and so on until the option expires) how does this strategy make profits?