ExIRExIR 16711 bronze badge $endgroup$ 1 $begingroup$ Many thanks for encouraging, but does that necessarily mean theta pnl only partly offsets Gamma pnl and never fully whether or not implied vol = recognized vol? Simply because assuming interest costs are zero, there isn't a other supply of generating cash. $endgroup$ https://sergiopuwzc.thelateblog.com/34583900/pnl-options