Risk-free arbitrage with Iron Condors converted to Butterflies

Expiry dates were not carried across correctly in the prior post so I'll repost the trades updates for transactions this week.

Structure: Iron Condor Fly Conversion Arbitrage
Open Date 28-Sep-26
Security XSP
Expiry Date 19-Oct-26
Initial Strikes 746/750/783/787
Open Credit 1.59
Fly Conversion Strikes 754/779
Fly Conversion Date 14-Oct-26
Fly Conversion Debit 1.29
Fly Credit(s) 0.13
Fly Debit -
Profit / (Loss) 0.43
Profit / (Loss) % on Initial VaR 18.0%
IRR on VaR 4153.3%

Structure: Iron Condor Fly Conversion Arbitrage
Open Date 29-Sep-26
Security XSP
Expiry Date 19-Oct-26
Initial Strikes 7460/7500/7850/7890
Open Credit 16.30
Fly Conversion Strikes 7540/7810
Fly Conversion Date 13-Oct-26
Fly Conversion Debit 13.50
Fly Credit(s) -
Fly Debit -
Profit / (Loss) 2.80
Profit / (Loss) % on Initial VaR 11.8%
IRR on VaR 1738.2%

Structure: Iron Condor Fly Conversion Arbitrage
Open Date 05-Oct-26
Security XSP
Expiry Date 28-Oct-26
Initial Strikes 747/750/785/791
Open Credit 2.87
Fly Conversion Strikes 753/779
Fly Conversion Date 15-Oct-26
Fly Conversion Debit 2.56
Fly Credit(s) -
Fly Debit -
Profit / (Loss) 0.31
Profit / (Loss) % on Initial VaR 9.9%
IRR on VaR 3040.6%

I opened another position yesterday.

Structure: Iron Condor Fly Conversion Arbitrage
Open Date 16-Oct-26
Security XSP
Expiry Date 06-Nov-26
Initial Strikes 752/761/784/791
Open Credit 3.90