BWF = big wide fly. Pay less for flys by going further out in time. As shown Mar20 is 30dte, expiry a couple days past the Mar FOMC. 200 wide for < $700 to make max $9k. Very wide profit zone approx 6900 to 6500 a day b4 expiry. Will show profit on any kind of down move so needs discipline to stay in till near expiry, when the chance of high return is best. Same idea for calls is 2x as expensive, but still worthwhile. I could see putting these on every week, puts and calls.
"If The Fool persists in his Folly he will become wise." - William Blake