DETAILS, FICTION AND PNL

Details, Fiction and pnl

$ From the "work case" you liquidate the portfolio at $t_1$ realising its PnL (let me simplify the notation somewhat)Trader A has designed some significant PnL, meanwhile Trader B arrives out with nothing whatsoever and his skipped out on volatility over the trading day which he could've profited off of had he been repeatedly hedging instead of jus

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