ExIRExIR 16711 bronze badge $endgroup$ 1 $begingroup$ Many thanks for helping, but does that mean theta pnl only partially offsets Gamma pnl instead of absolutely even when implied vol = understood vol? Due to the fact assuming curiosity rates are zero, there's no other source of creating funds. $endgroup$ La https://www.youtube.com/watch?v=qMmsQ4kKgY4