Strategy EV

Strategy EV displays the EV of a player's entire strategy prior to posting the blinds.

Strategy EV is only relevant in SB versus BB battles where the board is not yet known (after all, it's a measure for the value of your strategy before you knew what the board was going to be).

Also, it requires that the strategy is defined for all of the hands of both players.
Otherwise, a player would have an artificially strong range, which would not be realistic.

Below is an example of a battle of SB vs BB:

 

In this case, SB's strategy loses him $0.42 for every hand he plays. This is because his raise/fold decision yields him an EV of $0.08, while he needs to post a $0.50 blind in order to get into that spot (thus resulting in a loss of $0.08-$0.50=-$0.42).

To turn Strategy EV OFF entirely, turn OFF "Settings->Display strategy EV sb vs bb" in the menu.