ExIRExIR 16711 bronze badge $endgroup$ 1 $begingroup$ Thanks for assisting, but does that necessarily mean theta pnl only partly offsets Gamma pnl instead of absolutely even if implied vol = recognized vol? Due to the fact assuming curiosity fees are zero, there is no other source of building income. $endgroup$ https://www.youtube.com/watch?v=qMmsQ4kKgY4