$ During the "perform situation" you liquidate the portfolio at $t_1$ realising its PnL (allow me to simplify the notation somewhat) Trader A has produced some hefty PnL, In the meantime Trader B comes out with almost nothing in the slightest degree and his missed out on volatility through the https://holdenpntxa.blogitright.com/34251285/the-fact-about-pnl-that-no-one-is-suggesting