DETAILS, FICTION AND PNL

$ Now you say $V_t$ is the risky asset. Really puzzling. Edit the post to produce this crystal obvious. We could think about what exactly is a PnL the moment we know very well what we have invested in. $endgroup$$begingroup$ In the event you look at just one instance, it may seem like the frequency of hedging specifically consequences the EV/Avg(Pn