ExIRExIR 16711 bronze badge $endgroup$ 1 $begingroup$ Thanks for helping, but does that imply theta pnl only partly offsets Gamma pnl instead of entirely although implied vol = recognized vol? For the reason that assuming desire premiums are zero, there is absolutely no other source of generating funds. $endgroup$ Having https://www.youtube.com/watch?v=qMmsQ4kKgY4