ExIRExIR 16711 bronze badge $endgroup$ 1 $begingroup$ Thanks for aiding, but does that imply theta pnl only partially offsets Gamma pnl and never totally even when implied vol = understood vol? Mainly because assuming curiosity premiums are zero, there isn't a other supply of earning dollars. $endgroup$ the identified threat https://www.youtube.com/watch?v=qMmsQ4kKgY4