$ From the "do the job circumstance" you liquidate the portfolio at $t_1$ realising its PnL (allow me to simplify the notation a tad) $begingroup$ Assuming you are Doing the job to get a lender, there are three diverse P&Ls based on the operate/ use: PNL were set to perform https://www.youtube.com/watch?v=qMmsQ4kKgY4