Month
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Walk through the whole index, one month at a time. At each monthly mark you open a one-month Net-Loss Future — enter at this month's net-loss rate, settle to next month's realized print. Each bet pays side × notional × (settle − entry) / 100 (1 point = 1% of notional). Press play and watch a strategy bet all ~112 marks in sequence, with PnL accumulating. Illustrative, historical only.
Net-loss index (right axis) with a marker on the month being bet; cumulative PnL (left axis) builds as each bet settles.