Tom and others, have you ever considered running the bearish flies as a total package? With the weekly series opening up, you literally could stagger not only the quantity but also the fly expiration every 2-3 days. By looking at them all together, you have some flexibility in adjustments. Example market heading down and vol coming up you can buy back a short put out of the middle of the fly in one of the back months. Also, you would be entering on different days so it isn't an all or none with the fly entry (you could even position some of the flies closer to the money than typical based on what the existing position looks like). I see a lot of different scenarios, essentially you would want the entire fly structure with the body of the fly below the market and a flat T+0 on the upside. You would probably lose the original fly structure with the adjustments, so you would probably want to run it in a PM acct. Just curious what pitfalls you guys see.