ExIRExIR 16711 bronze badge $endgroup$ one $begingroup$ Thanks for assisting, but does that suggest theta pnl only partially offsets Gamma pnl instead of fully even though implied vol = realized vol? For the reason that assuming interest fees are zero, there is no other source of earning dollars. $endgroup$ Depreciation https://www.youtube.com/watch?v=qMmsQ4kKgY4