I'm layering these on with a particular price zone in mind between the .236 and .764 shown on this SPX
500 chart, but giving myself a bit more leeway to the downside from the outset. I can always delta balance the setup on the fly by rolling the short put side up a little bit within the same expiry as the trade progresses.
March 4th SPY
Probability of Profit %: 62%
Max Profit: 1.04/$104/contract
Buying Power Effect: 2.96/$296/contract
Break Evens: 182.96/204.04