ExIRExIR 16711 bronze badge $endgroup$ 1 $begingroup$ Thanks for supporting, but does that indicate theta pnl only partially offsets Gamma pnl rather than entirely regardless of whether implied vol = realized vol? Mainly because assuming desire premiums are zero, there's no other source of creating income. $endgroup$ $begingroup$ Assuming that https://www.youtube.com/watch?v=qMmsQ4kKgY4