ExIRExIR 16711 bronze badge $endgroup$ 1 $begingroup$ Many thanks for serving to, but does that mean theta pnl only partly offsets Gamma pnl rather than totally whether or not implied vol = understood vol? Mainly because assuming desire fees are zero, there isn't a other supply of making revenue. $endgroup$ https://www.youtube.com/watch?v=qMmsQ4kKgY4