ExIRExIR 16711 bronze badge $endgroup$ 1 $begingroup$ Thanks for helping, but does that necessarily mean theta pnl only partly offsets Gamma pnl rather than completely whether or not implied vol = recognized vol? Simply because assuming interest rates are zero, there isn't a other supply of generating funds. $endgroup$ La https://www.youtube.com/watch?v=qMmsQ4kKgY4