Essentially a bear put spread with another short put. The bear put spread used as hedge, where the short put reduce the cost. But could be naked put. Only this one could get assigned if price drops further more. This is basically betting that the price movement in a range not dropping too much below the short put strike price. Should compare this to selling 1 put instead of selling 2 puts, which provide less protection as the premium is not much and is the only cushion. Am I right? Thanks a lot.
