ExIRExIR 16711 bronze badge $endgroup$ one $begingroup$ Thanks for helping, but does that signify theta pnl only partially offsets Gamma pnl and never fully regardless of whether implied vol = recognized vol? For the reason that assuming fascination charges are zero, there isn't a other source of earning revenue. $endgroup$ https://www.youtube.com/watch?v=qMmsQ4kKgY4