EVERYTHING ABOUT PNL

Everything about pnl

If you hedge every moment, You would not recognize the full pnl of the larger SD moves but you do capture the full pnl in the lesser intraday moves. Conversely, if You simply hedge once daily, you won't recognize the entire pnl in the lesser intraday moves (like within your case in point) but you would probably in return recognize the full pnl with

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