ExIRExIR 16711 bronze badge $endgroup$ 1 $begingroup$ Thanks for supporting, but does that necessarily mean theta pnl only partly offsets Gamma pnl rather than entirely even when implied vol = realized vol? For the reason that assuming fascination premiums are zero, there is absolutely no other supply of producing dollars. https://www.youtube.com/watch?v=qMmsQ4kKgY4