ExIRExIR 16711 bronze badge $endgroup$ 1 $begingroup$ Thanks for helping, but does that mean theta pnl only partially offsets Gamma pnl and not thoroughly even if implied vol = understood vol? For the reason that assuming desire rates are zero, there isn't any other supply of producing funds. $endgroup$ $begingroup$ https://www.youtube.com/watch?v=qMmsQ4kKgY4