ExIRExIR 16711 bronze badge $endgroup$ one $begingroup$ Many thanks for supporting, but does that necessarily mean theta pnl only partly offsets Gamma pnl instead of totally even if implied vol = realized vol? Since assuming interest rates are zero, there is not any other source of earning money. $endgroup$ the https://pnl29753.mdkblog.com/39928628/little-known-facts-about-pnl