The original STT was built as a moderate downside hedge trade (not for black swan protection).
I later created 4 or 5 other variants of the original STT, with a focus on them being used as income trades rather than as downside hedges.
These 5 or so STT income variants as well as the BSH and ways of financing the BSH, all went into the Portfolio Management Trading Tactics (PMTT) paid course.
The other thing to note is that even the original "hedge STT" was created such that it would leverage portfolio margin or SPAN margin.
That configuration is not a good use of RegT margin.
TDAmeritrade require starting capital of $125K in order to setup a portfolio margin account.
I can understand that there will be quite a few traders who don't have that much capital yet, and therefore can't trade portfolio margin.
But if that's the case, the broker should be able to approve any RegT account with the ability to trade futures options.
Once you can trade futures options, you'll be able to trade the /ES, and leverage SPAN margin, which is similar to portfolio margin.
If the broker refuses to give you access to trading futures options, then just take your business to a broker who will give you access.
You'll still need to learn the various things which are important to trading either portfolio margin or SPAN margin, such as how to optimize margin efficiency, how to control risk, how to manage your portfolio as a whole, how to use trade adjustments which are specific to PM and SPAN, and many other things.
All of these topics are also covered within the PMTT course.
So even if you have a RegT account, there's still plenty to learn within the PMTT course such that you can learn to properly trade with SPAN margin and futures options.
Once your account grows in size to $125K or higher, then you can switch over to a portfolio margin account.
Lastly, once you sign up for the PMTT course, you'll get access to over 50 trades and variants to choose from.
So rather than trying to re-invent the wheel, just join our community of advanced traders and jump on the fast track to 50 new trades which have already been documented and backtested.