ExIRExIR 16711 bronze badge $endgroup$ 1 $begingroup$ Many thanks for encouraging, but does that signify theta pnl only partly offsets Gamma pnl and never totally even if implied vol = understood vol? Simply because assuming interest rates are zero, there isn't any other source of creating funds. $endgroup$ Meanwhile it https://www.youtube.com/watch?v=qMmsQ4kKgY4