ExIRExIR 16711 bronze badge $endgroup$ one $begingroup$ Many thanks for assisting, but does that indicate theta pnl only partially offsets Gamma pnl rather than completely regardless of whether implied vol = recognized vol? Since assuming fascination premiums are zero, there's no other supply of making money. $endgroup$ WillWill 13344 bronze https://www.youtube.com/watch?v=qMmsQ4kKgY4