Valuation memo

Layer 3 · Path A — June–July 2026

June is partial (from 2026-06-14); July is the only full month.

Partner & client brief — confidential. Same measurement as the live layer3* → Results desk (2026-06-01 → 2026-07-31).

June 2026 — day by day

Date	Trades	W / L	Day PnL	×	Cumulative PnL
2026-06-14	18	12 / 6	+$411.90	×1.00	+$411.90
2026-06-15	190	106 / 84	+$2,279.04	×1.00	+$2,690.94
2026-06-16	122	63 / 59	−$506.72	×1.00	+$2,184.22
2026-06-17	94	53 / 41	+$172.65	×1.00	+$2,356.87
2026-06-18	80	54 / 26	+$1,496.60	×1.00	+$3,853.47
2026-06-19	186	102 / 84	+$2,097.66	×1.00	+$5,951.13
2026-06-20	203	104 / 99	+$543.08	×1.00	+$6,494.21
2026-06-21	165	90 / 75	+$979.07	×1.00	+$7,473.28
2026-06-22	68	52 / 16	+$2,636.04	×1.00	+$10,109.32
2026-06-23	91	61 / 30	+$1,985.01	×1.00	+$12,094.33
2026-06-24	75	44 / 31	+$554.18	×1.00	+$12,648.51
2026-06-25	107	63 / 44	+$643.93	×1.00	+$13,292.44
2026-06-26	110	53 / 57	−$349.13	×1.00	+$12,943.31
2026-06-27	170	94 / 76	+$1,325.92	×1.00	+$14,269.23
2026-06-28	57	31 / 26	−$138.85	×1.00	+$14,130.38
2026-06-29	87	52 / 35	+$662.01	×1.00	+$14,792.39
2026-06-30	116	63 / 53	+$107.55	×1.00	+$14,899.94

July 2026 — day by day

Date	Trades	W / L	Day PnL	×	Cumulative PnL
2026-07-01	103	64 / 39	+$1,480.78	×1.00	+$16,380.72
2026-07-02	116	69 / 47	+$1,227.35	×1.00	+$17,608.07
2026-07-03	160	87 / 73	+$1,399.69	×1.00	+$19,007.76
2026-07-04	112	70 / 42	+$1,658.34	×1.00	+$20,666.10
2026-07-05	102	57 / 45	+$167.04	×1.00	+$20,833.14
2026-07-06	192	116 / 76	+$3,495.39	×1.00	+$24,328.53
2026-07-07	78	45 / 33	+$1,105.77	×1.00	+$25,434.30
2026-07-08	79	46 / 33	+$1,051.88	×1.00	+$26,486.18
2026-07-09	67	41 / 26	+$587.56	×1.00	+$27,073.74
2026-07-10	91	54 / 37	+$1,152.03	×1.00	+$28,225.77
2026-07-11	83	51 / 32	+$1,479.78	×1.00	+$29,705.55
2026-07-12	78	56 / 22	+$2,293.84	×1.00	+$31,999.39
2026-07-13	99	61 / 38	+$1,448.86	×1.00	+$33,448.25
2026-07-14	92	53 / 39	+$534.83	×1.00	+$33,983.08
2026-07-15	7	5 / 2	+$222.65	×1.00	+$34,205.73
2026-07-16	44	24 / 20	−$78.46	×1.00	+$34,127.27
2026-07-17	104	63 / 41	+$798.68	×1.00	+$34,925.95
2026-07-18	115	67 / 48	+$802.03	×1.00	+$35,727.98
2026-07-19	30	13 / 17	−$675.92	×1.00	+$35,052.06
2026-07-20	24	10 / 14	−$784.14	×1.00	+$34,267.92
2026-07-21	31	15 / 16	−$391.15	×1.00	+$33,876.77
2026-07-22	73	44 / 29	+$998.84	×1.00	+$34,875.61
2026-07-23	27	15 / 12	−$50.82	×1.00	+$34,824.79
2026-07-24	44	21 / 23	−$477.87	×1.00	+$34,346.92
2026-07-25	116	61 / 55	−$181.77	×1.00	+$34,165.15
2026-07-26	155	95 / 60	+$1,751.00	×1.00	+$35,916.15
2026-07-27	25	15 / 10	+$193.25	×1.00	+$36,109.40
2026-07-28	31	12 / 19	−$820.51	×1.00	+$35,288.89
2026-07-29	42	22 / 20	−$140.65	×1.00	+$35,148.24
2026-07-30	21	12 / 9	+$12.02	×1.00	+$35,160.26
2026-07-31	24	19 / 5	+$1,045.18	×1.00	+$36,205.44

Source: Layer 3 Results · Path A copy book · confidential.