because they wanted a price band not one fixed price, shesh, face it there is nothing that suggests they were only using swaps and that was the only cause of there mtm losses.
the facts are (we have been through there statement) that they used both swaps and collars (mainly collars) both setups have downside price risk so both are a contributing factor (mostly the collars) to there hedging losses.
so unless you have any real evidence to suggest otherwise besides "they didnt use collars take my word for it im a part time options trader" stop harping on about swaps.