There are many ways to tie a small parachute fly. You can use CDC for a wing post and whip finish the fly at the base of post. I've tried a bunch of styles.
My favorite parachute fly uses white poly-yarn, for it's easy to see on the water and the material floats. I also like finishing the fly behind the hook eye, as I think it's more durable. So, after doing a bunch of online research, I found Charlie Craven's method of tying a Parachute Adams.
To tie a #24 BWO, I alter his recipe:
- Orvis "Big Eye" dry fly hook
- Micro-fibbets for the tails
- Olive thread for the body, with some taper
- Olive dubbing for the thorax (make sure you peek at the fly from below, as that will be the trout's view of the profile--you want a good-sized thorax)
- Grizzly for the hackle. I don't bother with adding both Brown and Grizzly, as the fly is so small anyways
A parachute-style fly is great. It sits lower in the water than a Catskill-style dry, and so, looks more vulnerable. Charlie's recipe is here.