ExIRExIR 16711 bronze badge $endgroup$ 1 $begingroup$ Thanks for helping, but does that necessarily mean theta pnl only partly offsets Gamma pnl and never absolutely regardless of whether implied vol = recognized vol? Since assuming curiosity rates are zero, there isn't any other supply of building income. $endgroup$ $begingroup$ Assuming https://alexislrvzd.blogsumer.com/33294399/details-fiction-and-pnl