Hello, I would like to understand if trying to do conversion or reversal arbitrages with futures and futures options (and building the position at once through a spread order and not through a few orders that create exposure to an execution risk) is a strategy which can be implemented successfully, or is it only a market-maker strategy and a retail investor will generally not succeed in making any profits with such strategy, even if the commissions are very low (say, with IB's or other low cost broker's commissions). My question relates mainly to US markets but if such strategy is available in other markets I would be happy to hear about them as well. Thanks for your help.