ExIRExIR 16711 bronze badge $endgroup$ 1 $begingroup$ Thanks for supporting, but does that signify theta pnl only partially offsets Gamma pnl rather than entirely whether or not implied vol = recognized vol? Because assuming fascination fees are zero, there's no other source of earning income. $endgroup$ $begingroup$ For an option https://www.youtube.com/watch?v=qMmsQ4kKgY4