ExIRExIR 16711 bronze badge $endgroup$ one $begingroup$ Many thanks for aiding, but does that indicate theta pnl only partly offsets Gamma pnl and never entirely although implied vol = understood vol? For the reason that assuming interest charges are zero, there's no other source of producing income. $endgroup$ In the https://www.youtube.com/watch?v=qMmsQ4kKgY4