FASCINATION ABOUT PNL

$begingroup$ I am undecided Whatever you signify by "cross" outcomes - the one correlation is they equally are features of the alter in underlying ($Delta S$)$begingroup$ Should you take a look at just one example, it could look like the frequency of hedging instantly outcomes the EV/Avg(Pnl), like in the situation you explained where hedging each

I ought to probably mention that I didn't say which process is correct. Just wanted to give The rationale why they are distinct.$begingroup$ In the event you have a look at just an individual illustration, it may look like the frequency of hedging right effects the EV/Avg(Pnl), like in the specific situation you explained wherever hedging each and