$ In the "work circumstance" you liquidate the portfolio at $t_1$ realising its PnL (allow me to simplify the notation a bit) $begingroup$ I estimate day-to-day pnl on a CDS place using the distribute alter occasions the CS01. Nevertheless I would like to estimate the PnL for an extended trade https://marcokpswy.newbigblog.com/40266737/what-does-pnl-mean