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Benjamin Harman
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In that sentence "profitable" is an adjective. The Latin phrase "ex ante" can be used either as an adjective or an adverb, but since what it is modifying is the adjective "profitable" and since we routinely use adverbs to modify adjectives without any hyphenation, there'd be no call for a hyphen just like there is no call for a hyphen in "highly intelligent man" or "wildly wonderful woman" or "fast approaching car" or "most famous friend."

I would, however, italicize "ex ante," though, seeing as how the very reason italicization was invented was to point to phrases in Italian and Latin, hence the name, so I'd go with Option A and write:

There is no ex ante profitable strategy.

Benjamin Harman
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