AN UNBIASED VIEW OF PNL

In the event you hedge each individual minute, You would not understand the entire pnl on the larger SD moves however, you do seize the full pnl of your scaled-down intraday moves. Conversely, if you only hedge once on a daily basis, you won't comprehend the full pnl within the scaled-down intraday moves (like within your case in point) but you'd i