ExIRExIR 16711 bronze badge $endgroup$ one $begingroup$ Thanks for assisting, but does that imply theta pnl only partially offsets Gamma pnl and not completely even when implied vol = recognized vol? Since assuming curiosity rates are zero, there isn't a other source of building dollars. $endgroup$ Depreciation = worth at https://www.youtube.com/watch?v=qMmsQ4kKgY4