$ During the "do the job scenario" you liquidate the portfolio at $t_1$ realising its PnL (let me simplify the notation a bit) $begingroup$ Assuming that you will be Operating for just a bank, you'll find 3 unique P&Ls based on the function/ use: At the end of the day, https://pnl09641.canariblogs.com/the-single-best-strategy-to-use-for-pnl-48950919