ExIRExIR 16711 bronze badge $endgroup$ 1 $begingroup$ Thanks for serving to, but does that signify theta pnl only partially offsets Gamma pnl rather than absolutely although implied vol = recognized vol? Mainly because assuming curiosity premiums are zero, there's no other source of building money. $endgroup$ $begingroup$ For a choice https://www.youtube.com/watch?v=qMmsQ4kKgY4