NEW STEP BY STEP MAP FOR PNL

In case you hedge each moment, you wouldn't notice the total pnl with the much larger SD moves but you do seize the entire pnl in the smaller intraday moves. Conversely, if You simply hedge as soon as a day, you will not comprehend the total pnl from your smaller intraday moves (like inside your instance) but you'll in return comprehend the full pn