LITTLE KNOWN FACTS ABOUT PNL.

When you hedge each and every moment, you wouldn't recognize the total pnl on the larger SD moves however , you do capture the full pnl of the smaller intraday moves. Conversely, if You simply hedge after a day, you won't recognize the full pnl with the scaled-down intraday moves (like as part of your case in point) but you'd in return comprehend t