ExIRExIR 16711 bronze badge $endgroup$ one $begingroup$ Thanks for supporting, but does that suggest theta pnl only partially offsets Gamma pnl and not totally even when implied vol = realized vol? For the reason that assuming fascination costs are zero, there is absolutely no other source of producing money. $endgroup$ https://www.youtube.com/watch?v=qMmsQ4kKgY4