ExIRExIR 16711 bronze badge $endgroup$ 1 $begingroup$ Many thanks for helping, but does that imply theta pnl only partly offsets Gamma pnl instead of absolutely even when implied vol = realized vol? Due to the fact assuming curiosity charges are zero, there's no other source of making revenue. $endgroup$ Column https://www.youtube.com/watch?v=qMmsQ4kKgY4