ExIRExIR 16711 bronze badge $endgroup$ 1 $begingroup$ Many thanks for supporting, but does that mean theta pnl only partially offsets Gamma pnl and not completely although implied vol = realized vol? Since assuming fascination premiums are zero, there is not any other supply of making money. $endgroup$ In the meantime https://sergiopuwzc.thelateblog.com/34583900/pnl-options