ExIRExIR 16711 bronze badge $endgroup$ one $begingroup$ Many thanks for supporting, but does that suggest theta pnl only partially offsets Gamma pnl and never fully even if implied vol = understood vol? Due to the fact assuming curiosity prices are zero, there isn't any other supply of generating income. $endgroup$ https://www.youtube.com/watch?v=qMmsQ4kKgY4