ExIRExIR 16711 bronze badge $endgroup$ 1 $begingroup$ Thanks for helping, but does that mean theta pnl only partly offsets Gamma pnl and not fully even if implied vol = understood vol? For the reason that assuming fascination premiums are zero, there's no other supply of building income. $endgroup$ the recognized https://www.youtube.com/watch?v=qMmsQ4kKgY4