ExIRExIR 16711 bronze badge $endgroup$ 1 $begingroup$ Thanks for encouraging, but does that imply theta pnl only partly offsets Gamma pnl rather than totally although implied vol = understood vol? Due to the fact assuming desire rates are zero, there is absolutely no other source of generating funds. $endgroup$ The https://www.youtube.com/watch?v=qMmsQ4kKgY4