The PnL involving $t$ and $T$ is the sum of all incrementals PnLs. Which is if we denote by $PnL_ uto v $ the PnL involving times $u$ and $v$, then Kurt G.Kurt G. 2,38944 silver badges1717 bronze badges $endgroup$ 3 $begingroup$ Many thanks lots for finding the time to https://www.youtube.com/watch?v=qMmsQ4kKgY4