Here in Michigan Blue Wing Olive mayflies come in various sizes. This fly not only looks great but is a great floater and can be turned into an indicator fly for a parachute/dropper combination with relative ease.
Start the tying thread just behind the hook eye and secure your thread one hook-eye length behind the eye and then snip or break the tag end off. Then, begin by cutting a 2″ piece of McFlylon from the hank and pull half of the strands apart. For one fly, you’ll use only half of the strand. Double it over the thread and tie it in at the thread tie-in point.
Using snug wraps of thread, begin posting the parachute at the bottom. The height of the parachute is not critical but making a post that is too high doesn’t look right since a column of hackle will be needed to cover it up.
Once the post is in place, bring your thread back to the bend of the hook. Pull a dozen fibers off from a hackle and measure them to the length of the shank of the hook. Tie them in at the bend and advance your thread forward.
Select an appropriately sized saddle hackle and tie the stem in vertical to the shank ahead of the post and then make wraps around the post binding the stem down. Let your thread hang just behind the post and snip a biot free from the stem.
Tie the biot in to the bend of the hook and then advance your thread forward just behind the post. Using hackle pliers, make wraps toward the eye stopping once the biot touches the post. Make three or four tight wraps to bind the biot down to the hook and then snip off the excess.
Create a thin dubbing noodle and dub the thorax making it slightly bulkier than the tail. End with your thread BEHIND the post and let it hang down in front of you. Since I finish with the end-knot on the post and not behind the eye of the hook, the hackle is the last step.
Begin making wraps of the hackle down the post and then be careful not to trap any hackle fibers, capture the hackle at the base of the post before snipping off the excess. Finally, whip finish carefully around the base of the post and take extra time to ensure no fibers get trapped, once again. Seat the knot and then cut off your thread as close as possible to the post. If you’re not satisfied with the length of the parachute, trim it to your liking.
Thread: 70 Denier UTC
Hook: Mustad R50-94840 Size 12-18
Tail Fibers: Hackle Fibers (Dun colored)
Thorax: Gold Hare’s Ear Dubbing
Parachute: Grey McFlylon
Tail: BWO Goose Biot