Stock price not relevant Option premium not relevant This spread has different names It's a put front spread It's a ratioed put vertical spread It's a butterfly, missing one leg But I'd go with 'front spread' Mark
It's a ratio spread. I learned that right here from reading other posts "I've been recently been developing a strategy generally focused around the idea of a RATIO SPREAD trade where an ITM/ATM/or OTM call or put is purchased by the buyer, who finances it with 2 further OTM options in the same month or buying one option and financing it with a higher strike further out month option."