ExIRExIR 16711 bronze badge $endgroup$ 1 $begingroup$ Thanks for encouraging, but does that mean theta pnl only partly offsets Gamma pnl and never fully although implied vol = realized vol? For the reason that assuming fascination rates are zero, there is absolutely no other source of building revenue. $endgroup$ WillWill https://www.youtube.com/watch?v=qMmsQ4kKgY4