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@nrexpress You are on the right track.. PVH is a good straddle and I just closed out of my position for a good profit. The mistake you made was looking at the return matrix and thinking that it was showing RV changes. The return matrix (top chart) show actual pnl % of the straddle (not RV). As Yowster said, RV does not equal pnl and the RV charts show 'worst case scenario'

Remember that the straddle RV chart is kind of a worst case picture because it assumes zero stock price movement (each day used the current ATM strike to compute the RV). So if the stock price moves you'll have some gamma gains on the stock price movement. And PVH had some decent stock price movement in prior cycles over the last few days as shown in this chart.. I actually looked at this PVH straddle or strangle for an official trade, but the bid/ask spreads are pretty wide so I was on the fence about using it or not.