ExIRExIR 16711 bronze badge $endgroup$ 1 $begingroup$ Many thanks for encouraging, but does that necessarily mean theta pnl only partly offsets Gamma pnl rather than absolutely although implied vol = recognized vol? Due to the fact assuming fascination costs are zero, there's no other source of generating income. $endgroup$ $begingroup$ https://www.youtube.com/watch?v=qMmsQ4kKgY4