STS NUPL

STS NUPL (Short-Term Supply Net Unrealized Profit/Loss) captures the unrealized profit or loss of STS by comparing its market value to its realized value.

$$\text{NUPL}_{\text{STS}} = \frac{\text{Market Value}_{\text{STS}} - \text{Realized Value}_{\text{STS}}}{\text{Market Value}_{\text{STS}}}$$