ExIRExIR 16711 bronze badge $endgroup$ 1 $begingroup$ Thanks for helping, but does that necessarily mean theta pnl only partially offsets Gamma pnl rather than fully whether or not implied vol = understood vol? Simply because assuming curiosity fees are zero, there is no other supply of building dollars. $endgroup$ the https://www.youtube.com/watch?v=qMmsQ4kKgY4