ExIRExIR 16711 bronze badge $endgroup$ one $begingroup$ Many thanks for serving to, but does that necessarily mean theta pnl only partly offsets Gamma pnl instead of entirely whether or not implied vol = realized vol? Because assuming interest fees are zero, there isn't any other supply of building revenue. $endgroup$ https://www.youtube.com/watch?v=qMmsQ4kKgY4