TheoTrade

Is anyone familiar with the Risk Twist Put spread as explained by TheoTrade?

SPY October 19th Exp.
STO 276 PUT x 1
BTO 266 PUT x 3
STO 264 PUT x 1
For a debit of $1.30

Apparently it is good for protection in a pullback of about 7%
They are saying that you can put this trade on about 4 times per year, 90 DTE

When I try to analyze the trade, it looks like risk of loss significantly increases after 30 days, so in my mind, you have to close and re-establish a new trade every 30 days.

If you know this trade, can you tell me the best way to manage it?