ExIRExIR 16711 bronze badge $endgroup$ 1 $begingroup$ Many thanks for helping, but does that imply theta pnl only partially offsets Gamma pnl and never thoroughly regardless of whether implied vol = realized vol? Because assuming curiosity prices are zero, there's no other supply of making revenue. $endgroup$ Nevertheless, the existence https://www.youtube.com/watch?v=qMmsQ4kKgY4