ExIRExIR 16711 bronze badge $endgroup$ 1 $begingroup$ Thanks for helping, but does that mean theta pnl only partly offsets Gamma pnl instead of totally even though implied vol = realized vol? Since assuming interest charges are zero, there isn't a other source of producing funds. $endgroup$ Depreciation = price at https://www.youtube.com/watch?v=qMmsQ4kKgY4