NEW STEP BY STEP MAP FOR PNL

When you hedge each and every moment, you wouldn't realize the complete pnl of the larger SD moves however, you do capture the complete pnl from the scaled-down intraday moves. Conversely, if you only hedge at the time on a daily basis, you won't realize the total pnl in the lesser intraday moves (like as part of your example) but you would probabl