@Jocomail78 as @TrustyJules noted it's expected that the theoretical model yields exactly 0 profit. But all theoretical models (particularly those commonly used by trading platforms eg Black-Scholes and its derivatives) of necessity only consider limited variables. The models don't know about things like earnings, macroeconomic events, etc. Therein lies your edge. Without such an edge it would indeed be a random walk, or worse, after considering slippage and transaction costs.